Unilever has acquired a majority stake in Nutrafol, a leading provider of hair wellness products. Unilever, which made the announcement on May 31, had previously held a minority stake of 13.2 percent in Nutrafol through Unilever Ventures.

Fernando Fernandez, President, Beauty and Wellbeing for Unilever, said in a statement, “I am delighted to welcome Nutrafol to the Unilever family. Nutrafol and its holistic approach to hair health is the perfect complement to our growing portfolio of innovative wellness and supplements brands. I am confident that with the full support of Unilever behind Nutrafol, [Nutrafol founder and CEO Giorgos Tsetis] and the team will continue to take this fast-growing business to even greater heights.”

Giorgos said in a statement, “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.”

Nutrafol is the highest-ranking dermatologist-recommended hair wellness brand in the U.S. The company’s product range addresses issues such as poor hair health and hair loss for men and women of all ages using a patented Synergen Complex.

Nutrafol, backed by consumer-focused private equity firm L Catterton, will continue to be led by Giorgos. Nutrafol will operate as part of Unilever’s Health & Wellbeing unit, which includes brands such as Olly, Liquid I.V., and Onnit.