Nutrafol acquired by Unilever
Unilever acquired Nutrafol, a personal care hair wellness brand, on Jul 7, 2022.
Transaction summary
- Target
- Nutrafol
- Acquirer
- Unilever
- Seller
- -
- Announced
- 2022-05-30
- Completed
- 2022-07-07
- Geography
- -
- Type
- Acquisition
- Deal type
- Control
- Stake acquired
- 67%
- First added
- 2026-06-19
- Latest update
- 2026-10-31
Value and multiples
100% enterprise value
EUR 1.2B
100% enterprise value | EUR
Basis: Derived from source data
Reported price is assumed to be 100% EV unless stated otherwise. Partial-stake estimates are qualified in the basis notes.
Approx. $1.3B USD using FX date 2022-05-30 at 1.0764 EUR/USD.
EV / revenue
4.9x
Period not stated
Basis: FundComb estimate
EV / EBITDA
22.7x
EBITDA basis not stated
Basis: FundComb estimate
Amounts paid and other reported values
Original reported amounts and bases; a stake payment is distinct from the estimated whole-company valuation.
Consideration: EUR 811M
Unilever’s 2022 annual report (Form 20-F): €811m cash paid on completion for a further 67% of Nutrafol on 7 July 2022, taking Unilever’s holding to 80%.
Basis
- Unilever’s 2022 annual report gives €811m cash paid for a further 67% of Nutrafol on 7 July 2022, taking Unilever to 80% and implying about €1,210m (US$1,303m) for 100%. The same note values Unilever Ventures’ earlier 13% at €157m, about €1,208m for 100%. The 4.9x revenue and 22.7x EBITDA multiples come from FundComb’s comps spreadsheet; the revenue, EBITDA and period behind them are not stated.
Other reviewed estimates
Earlier estimates and their sources.
Source summary
Unilever to acquire majority stake in Nutrafol | Unilever
ConfirmedUnilever announced on May 30, 2022 that it had signed an agreement to acquire a majority stake in Nutrafol, described as a provider of hair wellness products.
Open sourceUnilever Annual Report and Accounts 2022 (Form 20-F): Nutrafol acquisition note
ConfirmedOn 7 July 2022, Unilever acquired a further 67% of the shares of Nutrafol, in which Unilever Ventures previously held a minority stake (13%), to bring Unilever’s total equity interest to 80%. The total consideration paid for the 67% share of Nutrafol was €811 million, all of which was settled in cash on completion. Fair value of the 13% stake previously held by Unilever Ventures: €157 million.
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