The Honest Company, the consumer packaged goods company co-founded by actress Jessica Alba, could soon be joining Unilever.
The five-year-old company, which focuses on “green” and “organic” products, is in talks to be acquired by Unilever (UL), which makes Dove soaps and Axe body sprays, among many other products, according to a report by the Wall Street Journal that cites anonymous sources. The deal is reportedly valued at more than $1 billion, but below the $1.7 billion that valuation the Honest Company achieved in a previous funding round. Tech news site Recode first reported that the company was looking to be acquired last week.
Going public also remains an option that the Honest Company hasn’t entirely dismissed, according to the Journal.
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The Honest Company has raised more than $200 million from investors, including General Catalyst Partners, Lightspeed Venture Partners, and Fidelity. It generations about $300 million in annual revenue, according to media reports, selling both through retailers like Target, and via its own websites.
Earlier this year, the Honest Company was hit with multiple lawsuits claiming its products contain chemicals the company says it avoids. Alba has repeatedly denied the reports, calling the lawsuits “baseless” and aimed at her company because it’s an “easy target.”
Acquiring the Honest Company would be Unilever’s second $1 billion-plus purchase of an online consumer startup this summer. In July, it acquired the Dollar Shave Club, which sends customers disposable razors for a monthly fee, for $1 billion. Then in August, Wal-Mart paid $3 billion for Jet.com, a competitor to Amazon’s e-commerce business, further signaling that selling to a large company may be the best option for e-commerce startups and their survival.
Fortune has contacted the Honest Company and will update this story if we hear back.
