Unilever has on Friday announced it has signed an agreement to acquire the premium biotech haircare brand K18 for an undisclosed sum.
The consumer goods giant said the deal marks another step in the optimisation of its portfolio towards higher growth areas.
Founded in 2020 by Suveen Sahib and Britta Cox, K18 is a fast-growing brand that sits at the intersection of beauty and biotechnology. It has been a pioneer of using social media to educate and engage consumers about the science of hair.
“We are thrilled to continue to grow our Unilever Prestige portfolio in high growth premium spaces with the addition of K18,” Vasiliki Petrou, Unilever Prestige chief executive, said.
“This acquisition complements our fast-growing portfolio of premium, culturally-relevant consumer brands. What Suveen, Britta and the team have created is a testament to the importance of brands built on unparalleled science, product efficacy and community love.”
K18’s range of six products help to identify and address the causes of hair damage, making them a favourite with both professionals and consumers. Its first novel molecule – K18Peptide – mimics the human keratin structure to reverse chemical damage on all hair types in minutes, helping to replace complex hair treatment routines with immediate results.
“Nature is the best designer, and we’ve found that by understanding the biology of hair you can achieve true hair health and hair expression with less product, less time, and less frustration,” Suveen Sahib, co-founder and chief executive of K18, said.
“We are elated to join forces with Unilever, who sees the value in our unique biology-first and biotech approach that is more sustainable and efficacious. Our team is proud to join its Prestige beauty business of future forward brands that deliver true impact.”
K18 is distributed through professional salons, retail, and eCommerce primarily in North America, UK and Australia. The transaction is expected to close in the first quarter of 2024.