PARIS — L Catterton has taken a minority stake in Maria Nil, with a view to step up the Swedish sustainable skilled hair care brand’s growth and international expansion.
L Catterton, the private equity firm backed by LVMH Moët Hennessy Louis Vuitton, said it made the investment of a “significant minority stake” through its European fund. Specific financial terms of the deal weren’t disclosed.
Hair care — a high-potential beauty category — may be very much within the sites of investors today.
Maria Nila, based in Stockholm, produces wholly vegan and climate-compensated hair care products. The brand is five years old, and sold in Europe and the U.S.
The businesses said jointly in a press release Wednesday that the partnership will help Maria Nila speed up growth by expanding the brand, product portfolio and sales channel around the globe.
Marcus Wikström, who’s the son of Maria Nila’s founders, is to proceed on because the brand’s chief executive officer.
“Maria Nila represents a compelling opportunity to partner with a very sustainable and vegan brand in the sweetness space,” said Luigi Feola, a managing partner in L Catterton’s Europe fund, in a press release. “Because the number-one skilled hair care brand in Sweden with a robust consumer following, the expansion potential for Maria Nila is critical.
“We imagine there’s meaningful white space to speed up global expansion and increase share in underpenetrated categories by leveraging the brand’s successful go-to-market strategy and differentiated brand proposition,” he continued.
L Catterton’s other beauty investments include Elemis, The Honest Company, Bliss and Tula.
The various hair care deals throughout the past yr include Gisou, the premium honey-based hair and sweetness brand, closing a Series B funding round led by Eurazeo Brands. And Latine clean hair care brand Ceremonia raised $10 million in Series A funding led by Sandbridge Capital.
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