Unilever announced that it has signed an agreement to acquire a majority stake in Nutrafol, a provider of hair wellness products. Unilever currently holds a minority stake (13.2%) in Nutrafol through Unilever Ventures.
Nutrafol 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.
Fernando Fernandez, President, Beauty and Wellbeing for Unilever said, “I am delighted to welcome Nutrafol to the Unilever family. 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.”
Giorgos Tsetis, Co-Founder and CEO of Nutrafol said, “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. I am so thankful to the Nutrafol team for all we have accomplished together. 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, Chief Innovation and Product Officer of Nutrafol said, “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 individualized hair needs.”
Nutrafol, backed by consumer-focused private equity firm L Catterton,will continue to be based in New York and led by CEO Giorgos Tsetis. Nutrafol will operate as part of Unilever’s Health & Wellbeing unit, which includes brands like OLLY, Liquid I.V. and Onnit. 2 Terms of the deal were not disclosed. The acquisition is subject to regulatory approval and customary closing conditions.