THE WHAT? Unilever has announced the acquisition of premium hair care brand, K18. Financial terms of the deal were not disclosed. The purchase is expected to complete by the close of the current quarter.

THE DETAILS Distributed through professional salons, retail and e-commerce in the UK, US and Australia, the brand offers six products designed to address the causes of hair damage and will join Unilever’s Prestige unit.

“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,” comments Suveen Sahib, Co-founder and CEO of K18.

“We are elated to join forces with Unilever, who sees the value in our unique biology-first and biotech approach that is more sustainable and efficacious. Our team is proud to join its Prestige beauty business of future forward brands that deliver true impact.”

THE WHY? The UK FMCG giant said that the deal marked another step in the optimization of its portfolio towards higher growth areas.

Vasiliki Petrou, Unilever Prestige CEO, explains, “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.”