Nutrafol is said to complement Unilever’s growing portfolio of supplement brands
Unilever has announced it is acquiring hair wellness brand Nutrafol.
The FMCG and beauty giant already held a 13.2% stake in the nutricosmetics player via its Unilever Ventures business.
Nutrafol is the number one dermatologist recommended hair growth brand in the US and offers products developed to address thinning hair for women and men at various life stages.
It leverages a patented blend of nutraceutical ingredients, which it calls its Synergen Complex, to target multiple root causes affecting hair health, including hormones, stress, lifestyle, nutrition and ageing.
Nutrafol will join Unilever’s Health & Wellbeing unit, which includes brands including OLLY, Liquid I.V. and Onnit.
“Joining forces with a leading global organisation 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 whole body health,” said Giorgos Tsetis, co-founder and CEO of Nutrafol.
“The Unilever family will be a great home for us as we continue to move the industry forward with new innovations to support the needs of consumers at every point of their hair health journey.”
Roland Peralta, co-founder and Chief Innovation and Product Officer of Nutrafol, added: “When we founded Nutrafol in 2016, it was inspired by our own experiences with thinning hair and the inability to find a natural, yet efficacious way to take control of our hair health.
“Nutrafol couldn’t be just another untested alternative to hair drugs and vitamins.
“Now we are proud to offer a suite of best-in-class, clinically backed products that help customers easily navigate and take control of their individualised hair needs.
“I am delighted to welcome Nutrafol to the Unilever family,” said Fernando Fernandez, President, Beauty and Wellbeing for Unilever.
“Nutrafol and its holistic approach to hair health is the perfect complement to our growing portfolio of innovative wellness and supplements brands.
“I am confident that with the full support of Unilever behind Nutrafol, Giorgos and the team will continue to take this fast-growing business to even greater heights.”
Nutrafol, which is backed by private equity firm L Catterton, will continue to be based in New York and be led by Tsetis.
Terms of the deal were not disclosed and the acquisition is subject to regulatory approval and customary closing conditions.