(Sharecast News) - Unilever said on Friday that it has agreed to buy premium biotech haircare brand K18 for an undisclosed sum.
Founded in 2020 by Suveen Sahib and Britta Cox, K18 is a fast-growing brand "that sits at the intersection of beauty and biotechnology", Unilever said.
K18's range of six products help to identify and address the causes of hair damage. Its first novel molecule - K18Peptide - mimics the human keratin structure to reverse chemical damage on all hair types in minutes, helping to replace complex hair treatment routines with immediate results.
Vasiliki Petrou, Unilever Prestige chief executive, 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. 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."
K18 is distributed through professional salons, retail, and e-commerce primarily in North America, the UK and Australia.
The transaction is expected to close in the first quarter of next year.
Unilever (ULVR)
