Unilever is set to acquire hair care brand K18.
The business will join the personal care conglomerate’s Prestige beauty division, with the deal being expected to close in the first quarter of 2024.
Founded in 2020 by Suveen Sahib and Britta Cox, K18’s offering is designed to address hair damage through its patented K18 Peptide.
“This acquisition complements our fast-growing portfolio of premium, culturally-relevant consumer brands,” said Vasiliki Petrou, Unilever Prestige CEO.
“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.”
The brand’s lineup includes the Leave-in Molecular Repair Hair Mask, Molecular Repair Hair Oil and the Peptide Prep Detox Shampoo.
“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,” added Sahib, co-founder and CEO of K18.
The acquisition comes after the FMCG giant streamlined its brand portfolio in 2023.
Unilever sold its Elida Beauty business to private equity firm Yellow Wood Partners in December.
Elida comprises more than 20 non-core Unilever brands, including Impulse, the body spray brand and body wash and bar specialist Caress.
Hair care labels Timotei and Tigi, as well as Q-Tips, were included in the transaction.
Yellow Wood, the owner of Real Techniques and Isle of Paradise, also purchased the North American business of Suave from Unilever in February last year.
Dollar Shave Club, meanwhile, was sold to a US-based private equity firm Nexus Capital Management in October 2023.
Fabian Garcia, President of Unilever Personal Care, said the move marked a step towards transitioning the business’ portfolio towards “core strategic growth areas”.
