Unilever continues to optimizing its portfolio of brands. Hot on the heels of the announcement of the sale of Elida Beauty to private equity firm Yellow Wood Partners, the FMCG conglomerate has reached an agreement to acquire “biotech” hair care brand K18.
Founded in 2020 by Suveen Sahib and Britta Cox, K18 is a fast-growing brand that sits at the intersection of beauty and biotechnology. 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. The brand has been a pioneer of using social media to educate and engage consumers about the science of hair. K18 is distributed through professional salons, retail, and eCommerce primarily in North America, UK and Australia.
“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,” said Vasiliki Petrou, Unilever Prestige CEO.
Terms of the deal were not disclosed. The transaction is expected to close in Q1 2024.