Unilever announced today that it has signed an agreement to acquire a majority stake in Nutrafol, a leading provider of hair wellness products. Unilever currently holds a minority stake (13.2%) in Nutrafol through Unilever Ventures.
Nutrafol is the #1 dermatologist recommended hair growth brand in the U.S.1 , and 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.
Unlike traditional hair growth products that focus on a singular cause, Nutrafol takes an individualised whole-body approach that leverages its patented Synergen Complex® – a blend of medical-grade nutraceutical ingredients that target multiple root causes affecting hair health including hormones, stress, lifestyle, metabolism, nutrition, and aging.
More than 114 million U.S. consumers experience hair health issues, which is cited as a top beauty concern for both women and men. As a result of its sophisticated in-house digital capabilities and scalable technology, Nutrafol is well positioned to build on its eCommerce success and to grow its multichannel presence, including the network of more than 3,000 physicians who sell its products. With the majority of its revenue coming from a loyal customer base, Nutrafol is poised for sustainable, scalable, and profitable growth.
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.