Unilever has signed an agreement to acquire a majority stake in Nutrafol, a maker of wellness products.
“As a result of its sophisticated in-house digital capabilities and scalable technology, Nutrafol is well-positioned to build on its e-commerce success and to grow its multichannel presence, including the network of more than 3,000 physicians who sell its products,” Unilever said in a statement. “With the majority of its revenue coming from a loyal customer base, Nutrafol is poised for sustainable, scalable and profitable growth.
Giorgos Tsetis, cofounder and chief executive officer of Nutrafol, said Unilever will contribute resources and enable scale. “Nutrafol and its holistic approach to hair health is the perfect complement to our growing portfolio of innovative wellness and supplements brands,” said Fernando Fernandez, president, beauty and well-being at Unilever.
Nutrafol, which is backed by private equity concern L Catterton, will continue to be New York-based and led by Tsetis. The brand will become part of Unilever’s health and well-being unit, which also includes brands such as Olly, Liquid I.V. and Onnit.
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