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Unilever-Backed Supplement Firm Nutrafol Said to Explore Sale

Unilever-Backed Supplement Firm Nutrafol Said to Explore Sale

Nutrafol, a maker of hair supplements, is exploring a sale and could fetch up to $1 billion, according to people familiar with the matter. 

The company is working with a financial adviser, said the people, who asked to not be identified because the matter isn’t public. The company’s parent, Nutraceutical Wellness Inc., which is backed by L Catterton and Unilever Plc’s venture arm, is projected to deliver $175 million in revenue in 2021, one of the people said. 

A representative for Nutrafol declined to comment.  

Launched in 2016 and led by co-founder and Chief Executive Officer Giorgos Tsetis, the company sells oral supplements and hair serums to support hair growth for men and women. It raised $35 million in a funding round in 2019 led by L Catterton’s growth fund, according to a statement at the time.

Hims & Hers Health Inc., which sells hair-loss treatment products among others, went public through a merger with a blank-check company earlier this year. 

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