Unilever is to acquire a majority stake in US hair wellness products supplier Nutrafol.
The British company currently holds a 13.2% minority stake in New York City-based Nutrafol through Unilever Ventures.
Nutrafol is said to be the leading dermatologist-recommended hair growth brand in the US, and offers a range of clinically tested, physician-formulated products designed to address thinning hair and compromised hair health for women and men at various life stages.
Backed by consumer-focused private equity firm L Catterton, Nutrafol will continue to be based in New York and led by founder and CEO Giorgos Tsetis.
Nutrafol will operate as part of Unilever’s Health & Wellbeing unit, which includes brands like OLLY, Liquid I.V. and Onnit.
“Unlike traditional hair growth products that focus on a singular cause, Nutrafol takes an individualised whole-body approach that leverages its patented Synergen Complex - a blend of medical-grade nutraceutical ingredients that target multiple root causes affecting hair health including hormones, stress, lifestyle, metabolism, nutrition, and ageing,” said Unilever.
Tsetis added: “Joining forces with a leading global organization like Unilever, and all the resources and scale that comes with that, is the natural evolution in our mission to help people grow into their best selves through wholebody health.”
Terms of the deal were not disclosed. The acquisition is subject to regulatory approval and customary closing conditions.
