The trend of “near-shoring” is becoming increasingly popular, making Mexico a hot spot for investment by many major players.

After the completion of the transaction, Suave’s operations outside of the United States and Canada will continue to be operated by Unilever.

For the full fiscal 2022, Unilever’s turnover jumped 14.5% to €60.1 billion and underlying sales growth reached 9%. GAAP operating profit surged 24% compared to 2021 to hit €10.8 billion.

Natural hair care brand Straand recently announced that it has received a 2 million USD pre-seed round investment from Unilever Ventures, a subsidiary of Unilever. This will accelerate its expansion into the United States, the United Kingdom, Europe, and China.