Last fall, Bloomberg reported Nutrafol, a leading provider of hair wellness products, was exploring a sale projected to fetch up to $1 billion. Unilever has now signed an agreement to acquire a majority stake in the brand. Unilever currently holds a minority stake (13.2%) in Nutrafol through Unilever Ventures.
Launched in 2016, Nutrafol takes an
integrative approach to hair wellness, pioneered in nutraceutical science with
natural formulations that address various hormonal, environmental, and
hereditary causes that compromise hair health supported by a clinical study
shown to improve hair growth and quality. Nutrafol addresses the internal root
causes as the foundation of hair growth with additional hair health support at
the scalp and through targeted boosters.
Nutrafol's team of doctors and researchers
are constantly investing in scientific research and developments at the
forefront of genetics, biotechnology, and anti-aging medicine to remain on the
cutting edge of hair health innovation. Nutrafol is backed by more than 3,000+
physicians across the US for its trusted, reliable results, and has received
numerous prestigious accolades.
Dutch conglomerate Unilever PLC was
incorporated on June 21, 1894. The company's segments include personal care,
food, home care, and refreshments. The company operates in more than 100
countries, selling its products in more than 190 countries. Unilever owns more
than 400 brands including 11 "billion-dollar brands."
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.”