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.
WHO: 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."
IN THEIR OWN WORDS: 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.”
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