Unilever announces the signing of an agreement to acquire a majority stake in Nutrafol, a specialist in the supply of hair wellness products. So far, Unilever has a 13.2% stake in Nutrafol, through Unilever Ventures.
Unilever recalls that ‘Nutrafol is the #1 brand for hair growth recommended by dermatologists in the United States’ and that ‘unlike traditional products’, Nutrafol takes ‘an individualized whole-body approach that takes advantage of its patented solution, Synergen Complex’ – a blend of medical grade nutraceutical ingredients.
“With the majority of its revenue coming from loyal customers, Nutrafol is poised for sustainable, scalable and profitable growth,” said Unilever, which believes that Nutrafol is also a perfect complement to its portfolio.
Terms of the agreement were not disclosed and the acquisition remains subject to regulatory approval and customary closing conditions.
Copyright (c) 2022 CercleFinance.com. All rights reserved.