Who Owns Shea Moisture? Ownership, Acquisition History, and What It Means for the Brand

SheaMoisture is owned by Unilever PLC, a British multinational consumer goods company. Unilever acquired the brand in 2020 by purchasing Sundial Brands, the parent company that Richelieu Dennis founded in 1991. The acquisition was announced in November 2017 but didn't close until 2020. Dennis stayed on as CEO and Executive Chairman of Sundial after the deal, though Unilever holds ultimate ownership.

SheaMoisture's Current Parent Company

Unilever PLC Overview

Unilever is one of the world's largest consumer goods companies. Founded in 1929 and headquartered in London, it owns more than 400 brands across food, personal care, and home products. 

You probably recognize names like Dove, Hellmann's, Ben & Jerry's, and Axe. The company employs around 128,000 people globally and trades publicly on both the London Stock Exchange and NASDAQ.

Where SheaMoisture Fits in Unilever's Portfolio

SheaMoisture operates within Unilever's Beauty & Wellbeing division. It sits alongside other personal care brands but maintains its own identity. The brand still emphasizes its Community Commerce model—a business approach focused on reinvesting profits into Black communities and supporting entrepreneurs of color. 

Unilever hasn't folded SheaMoisture into a generic product line. Instead, it continues as a distinct brand with global distribution through major retailers.

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The Sundial Brands Acquisition

Timeline of How Unilever Acquired SheaMoisture

Unilever announced its intention to buy Sundial Brands in November 2017. Sundial

owned three brands at the time: SheaMoisture, Nubian Heritage, and Madam C.J. Walker Beauty Culture. The deal took nearly three years to finalize, closing in 2020.

At the time of acquisition, Sundial Brands had roughly $240 million in annual revenue. Unilever never disclosed the purchase price publicly, though some reports have speculated it was around $1.6 billion. What's confirmed is that Sundial was one of the largest Black-owned beauty companies in the United States before the sale.

What Happened to Sundial Brands

After the acquisition, Sundial didn't disappear. It became a wholly-owned subsidiary of Unilever but continued operating as a standalone business unit. This structure allowed the company to maintain some operational independence while benefiting from Unilever's distribution networks and resources.

Richelieu Dennis remained as CEO and Executive Chairman of Sundial following the sale. His role gave him continued influence over the brands under the Sundial umbrella, though Unilever made the final decisions on major strategic moves.

The New Voices Fund

Part of the acquisition deal included creating the New Voices Fund, which launched with $50 million in initial funding. The fund focuses on supporting women of color entrepreneurs through grants, education, and mentorship. It later evolved into programs like the Next Black Millionaire initiative, which provides $100,000 in funding and business development support to Black-owned startups.

This wasn't just a PR gesture. The fund addressed one of the biggest concerns surrounding the sale: whether a multinational corporation acquiring a Black-owned brand would dilute its mission. By embedding community investment into the deal structure, Dennis ensured that part of SheaMoisture's original values would continue regardless of ownership.

SheaMoisture's Founding and Original Ownership

The Brand's Origins

The story starts with Sofi Tucker, Richelieu Dennis's grandmother. In 1912, she sold shea butter and homemade beauty products at a village market in Bonthe, Sierra Leone. Tucker was a single mother of four who built a small business around natural ingredients. Her entrepreneurial spirit became the inspiration for SheaMoisture decades later.

How Richelieu Dennis Founded SheaMoisture

Richelieu Dennis co-founded SheaMoisture in 1991 alongside his mother, Mary Dennis, and college friend Nyema Tubman. The three were Liberian immigrants who had relocated to Harlem, New York. Dennis started selling shea butter products from a card table in Harlem, drawing on his grandmother's recipes and methods.

From the beginning, the brand focused on natural hair care for Black consumers—a market that was underserved by mainstream beauty companies. SheaMoisture emphasized ingredients like shea butter, coconut oil, and African black soap. The company built a loyal following among women with curly, coily, and textured hair.

Growth Under Sundial Brands

SheaMoisture grew steadily through the 1990s and 2000s. By the mid-2010s, it had become a household name in natural hair care. In 2015 and 2016, the brand won "Overall Favorite Brand" in Naturally Curly's annual Best of the Best survey. By 2017, Sundial Brands had reached $240 million in annual revenue, with SheaMoisture as its flagship product line.

What set the brand apart wasn't just the products. Dennis structured Sundial around a Community Commerce model, which meant reinvesting profits into the communities where ingredients were sourced. The company partnered with women's cooperatives in Ghana and other West African countries, paying fair wages and funding education and healthcare programs.

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SheaMoisture's Mission and Business Model Today

Community Commerce Philosophy

SheaMoisture still operates under the Community Commerce framework. The brand commits to reinvesting at least 1% of net sales into Black communities. That includes funding for Black-owned businesses, educational scholarships, and economic development programs.

The brand sources shea butter from more than 53,000 women in West African cooperatives. These women receive fair wages—higher than typical fair trade standards—and the cooperatives provide healthcare, education, and infrastructure support to their communities.

SheaMoisture holds a B Corporation certification, which means it meets specific standards for social and environmental performance. It also has Fair for Life certification, an independent sustainability label for ethical sourcing.

Current Brand Initiatives Under Unilever

Since the acquisition, SheaMoisture has expanded its product lines and increased its community investment programs. In 2021, the brand launched the Next Black Millionaire program, which provides funding and mentorship to Black entrepreneurs. As of 2022, SheaMoisture had invested $10 million in grants and educational programs, supporting more than 250 Black-owned businesses.

The brand has also expanded into new product categories. In 2024, it launched its first deodorant line designed specifically for melanin-rich skin. This followed research showing that 80% of Black and Hispanic consumers felt existing personal care products weren't made with them in mind.

Unilever's goal is to turn SheaMoisture into a $1 billion brand. Whether that happens depends on how well the company balances growth with the community-focused mission that built the brand's reputation in the first place.

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Conclusion

SheaMoisture is owned by Unilever, acquired through the 2020 purchase of Sundial Brands. Founder Richelieu Dennis stayed on in a leadership role, and the brand maintains its Community Commerce mission.

The acquisition shifted ownership from a Black-founded company to a multinational corporation, though community investment programs continue under Unilever's structure.

Frequently Asked Questions

Is SheaMoisture still Black-owned after the Unilever acquisition?

No. Unilever, a British multinational corporation, owns SheaMoisture. Richelieu Dennis, the Black founder, remained in a leadership role as CEO and Executive Chairman of Sundial Brands after the sale. Ownership and leadership aren't the same thing.

Does Richelieu Dennis still control SheaMoisture?

Dennis continued leading Sundial Brands as CEO and Executive Chairman after the 2020 acquisition. He has influence over brand direction, but Unilever holds ultimate control as the owner. His current status as of 2025 isn't clear from available sources.

What is the relationship between Sundial Brands and SheaMoisture today?

Sundial Brands is the immediate parent company of SheaMoisture. Unilever owns Sundial, which operates as a standalone unit within Unilever's corporate structure. Both companies are under Unilever's ownership.

Why did SheaMoisture sell to Unilever?

The exact reasons weren't publicly detailed. The deal included the creation of a $50 million fund for women of color entrepreneurs. Dennis stated he wanted to show other minority-owned companies how to scale while maintaining social impact and community investment.

Did the Unilever acquisition change SheaMoisture's products or mission?

The brand maintains its Community Commerce model and continues sourcing shea butter from West African cooperatives. Product lines have expanded under Unilever's distribution network. The core mission of reinvesting in Black communities remains part of the brand identity.