London, England—Unilever announced its majority stake of hair growth supplement and wellness brandNutrafol. Unilever currently has a minority share at 13.2%, through its private equity arm, Unilever Ventures Ltd. Nutrafol, backed by the private equity firm L Catterton, will function with Unilever’s Health & Wellbeing unit. Its possession is contingent on regulatory approval.

“I am delighted to welcome Nutrafol to the Unilever family," said Fernando Fernandez, President, Beauty and Wellbeing at Unilever, in a press release. "Nutrafol and its holistic approach to hair health is the perfect complement to our growing portfolio of innovative wellness and supplements brands."

Giorgos Tsetis, Co-Founder and CEO of Nutrafol, added, “Joining forces with a leading global organization like Unilever, and all the resources and scale that comes with that, is the natural evolution in our mission to help people grow into their best selves through whole-body health. I am so thankful to the Nutrafol team for all we have accomplished together. The Unilever family will be a great home for us as we continue to move the industry forward with new innovations to support the needs of consumers at every point of their hair health journey."

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Roland Peralta, Co-founder, Chief Innovation and Product Officer of Nutrafol concluded, “When we founded Nutrafol in 2016 it was inspired by our own experiences withthinning hairand the inability to find a natural, yet efficacious way to take control of our hair health. Nutrafol couldn’t be just another untested alternative to hair drugs and vitamins. Now we are proud to offer a suite of best-in-class, clinically backed products that help customers easily navigate and take control of their individualized hair needs.”