Unilever has for months been exploring ways to increase the “green” products in its portfolio of brands, as consumers seek out eco-friendly detergents, lotions, and more. Just last week, Unilever was talking with Jessica Alba’s Honest Company, maker of chemical-free household goods, about a potential acquisition.
Now that deal looks far less likely. Unilever announced today that it had entered into an agreement to buy Seventh Generation, an Honest Company competitor. Fortune pegged the price as between $600 million to $700 million in cash, far cheaper than the $1.7 billion valuation that investors attached to Honest during a recent fundraising round.
Unilever may have considered Alba’s unicorn to be overpriced. According to the Wall Street Journal, the CPG conglomerate was looking to pay closer to $1 billion, the same amount it paid for Dollar Shave Club in August.