Unilever has announced the acquisition of premium 'biotech haircare' brand K18, as it seeks to reinforce its portfolio around higher growth segments.
K18 was founded in 2020 by entrepreneurs Suveen Sahib and Britta Cox and is described as sitting at 'the intersection of beauty and biotechnology'.
It boasts a range of six products that help to identify and address the causes of hair damage, with a novel molecule K18Peptide, helping to replace complex hair treatments, Unilever said in a statement.
'Culturally-Relevant Brands'
“We are thrilled to continue to grow our Unilever Prestige portfolio in high growth premium spaces with the addition of K18," commented Vasiliki Petrou, Unilever Prestige CEO.
"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.”
Professional Salons
The brand is distributed through professional salons, retail, and eCommerce primarily in North America, UK and Australia.
The terms of the deal were not disclosed, and Unilever expects to close the transaction in the first quarter of next year.
"We are elated to join forces with Unilever, who sees the value in our unique biology-first and biotech approach that is more sustainable and efficacious. Our team is proud to join its Prestige beauty business of future forward brands that deliver true impact.”
