USA: Unilever to acquire haircare brand K18

Unilever, the FMCG multinational, has announced that it has signed an agreement to acquire US haircare brand K18 for an undisclosed sum.

Founded in 2020 by Suveen Sahib and Britta Cox, K18 is described as bridging the gap between beauty & biotech with six haircare solutions targeting hair damage. K18 is distributed through professional salons, retail, and e-commerce platforms in North America, the UK and Australia.

Commenting on the deal, Vasiliki Petrou, Unilever Prestige CEO, said: “We are thrilled to continue to grow our Unilever Prestige portfolio in high growth premium spaces with the addition of K18. This acquisition complements our fast-growing portfolio of premium, culturally-relevant consumer brands”.

Suveen Sahib, co-founder and CEO of K18, added: “Nature is the best designer, and we’ve found that by understanding the biology of hair you can achieve true hair health and hair expression with less product, less time, and less frustration. 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”.

The transaction is expected to be completed by Q1 2024.

Source: Unilever