Unilever set to acquire K18
Unilever’s hair care portfolio of brands is expanding.
The company announced the signing of an agreement to acquire biotech hair care brand K18.
Founded in 2020 by Suveen Sahib and Britta Cox, K18 and its six products work to identify and address the causes of hair damage. In its debut product—K18Peptide—the product’s formula mimics the human keratin structure to help reverse chemical damage on all hair types in minutes.
[Read more: Unilever Ventures, True Beauty Ventures invest in The 7 Virtues]
“We are thrilled to continue to grow our Unilever Prestige portfolio in high growth premium spaces with the addition of K18,” said 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.”
Terms of the deal were not disclosed, and the transaction is expected to close in Q1 of 2024, the companies announced.
“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,” said Suveen Sahib, co-founder and CEO of K18. “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.”
[Read more: Unilever, Accenture collaborate on Next Generation AI]
K18 products are available in professional salons, retail and e-commerce in North America, the United Kingdom and Australia.