Unilever PLC - London-based maker of food & drink, cleaning, toiletry, and personal care products - Agrees to buy "biotech" haircare brand K18 for an undisclosed price. Founded in 2020, K18 has a range of six products that aim to use biotechnology to identify and address the causes of hair damage. It is distributed through professional salons and retailers, primarily in North America, the UK and Australia. The deal is expected to complete in the first quarter of next year, Unilever says on Friday.
"This marks another step in the optimisation of Unilever’s portfolio towards higher growth areas," Unilever says. On Monday last week, Unilever said it had sold Elida Beauty, maker of Q-Tips cotton swabs and Caress body wash, to private equity firm Yellow Wood Partners LLC, also for an undisclosed sum. Unilever said the Elida Beauty disposal was part of its effort to optimise its Personal Care portfolio, with focus on growth of its 'power brands'.
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By Tom Waite, Alliance News editor
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