Unilever boosts hair care division with biotech brand K18 as part of “higher growth” focus for personal care
22 Dec 2023 --- Unilever will acquire “premium” biotech hair care brand K18 as the company continues with previously announced plans to focus on “higher growth areas.”
K18 was established in 2020 by Suveen Sahib and Britta Cox. Unilever believes it is a “fast-growing brand that sits at the intersection of beauty and biotechnology.”
There are six products in the range to target hair damage. The company’s novel molecule, K18 Peptide, reportedly mimics human keratin structure to reverse chemical damage on all hair types in minutes.
Unilever sees strength in biotech
Unilever Prestige CEO Vasiliki Petrou says he’s “thrilled to continue to grow our Unilever Prestige portfolio in high growth premium spaces with the addition of K18.
Unilever offloads non-core brands.This acquisition complements our fast-growing portfolio of premium, culturally-relevant consumer brands.
Sahib is excited about the Unilever alliance and believes her company’s “biology-first and biotech approach…[will help] achieve true hair health and hair expression with less product, less time, and less frustration.”
K18 is found in professional salons, retail, and eCommerce, primarily in North America, the UK and Australia. The terms of the deal were not disclosed.
FMCG giant offloads more “non-core” brands
This week, Unilever confirmed plans to sell Elida Beauty to Yellow Wood Partners. The division includes brands such as Q-Tips and Pond’s skin care products.
The company told Personal Care Insights it was all part of plans to offload “non-core” beauty and personal care brands to help bring focus back to its higher-growth initiatives.
“As we continue to sharpen our portfolio for long-term growth, it’s important to focus investment on our top Power Brands aligned with our core strategic growth priorities. Elida Beauty comprises iconic brands with longstanding heritage, and we have been proud to be a part of the journey.”
Yellow Wood seals two deals with Unilever
We also interviewed co-founder Dana Schmaltz of Yellow Wood Partners about his company’s two deals with Unilever this year.
The Boston-based private equity firm first acquired the longstanding American hair care brand Suave and told us that the deal’s smooth transition helped Yellow Wood secure the second transaction with Unilever.
Yellow Wood predicts more shake ups in the consumer goods sector in the new year.
By Anita Sharma
