Unilever acquires hair growth brand Nutrafol

Unilever on Monday said it has signed an agreement to acquire a majority stake in Nutrafol, a leading provider of hair wellness products in the US.

The terms of the deal were not disclosed. Unilever currently holds a minority stake (13.2%) in Nutrafol through Unilever Ventures.

Founded in 2016, 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. Its patented Synergen Complex is a blend of medical-grade nutraceutical ingredients that target multiple root causes affecting hair health including hormones, stress, lifestyle, metabolism, nutrition, and aging.

“Nutrafol and its holistic approach to hair health is the perfect complement to our growing portfolio of innovative wellness and supplements brands,” Fernando Fernandez, President, Beauty and Wellbeing for Unilever said.

“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 chief executive of Nutrafol, said: “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 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.”

Nutrafol, backed by consumer-focused private equity firm L Catterton, will continue to be based in New York and led by Tsetis. The brand will operate as part of Unilever’s Health & Wellbeing unit, which includes brands like OLLY, Liquid I.V. and Onnit.