L Catterton Acquires Minority Stake in Maria Nila
PARIS — L Catterton has taken a minority stake in Maria Nil, in order to step up the Swedish sustainable professional 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 were not disclosed.
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Hair care — a high-potential beauty category — is very much in 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 companies said jointly in a statement Wednesday that the partnership will help Maria Nila accelerate growth by expanding the brand, product portfolio and sales channel around the world.
Marcus Wikström, who is the son of Maria Nila’s founders, is to continue on as the brand’s chief executive officer.
“Maria Nila represents a compelling opportunity to partner with a truly sustainable and vegan brand in the beauty space,” said Luigi Feola, a managing partner in L Catterton’s Europe fund, in a statement. “As the number-one professional hair care brand in Sweden with a strong consumer following, the growth potential for Maria Nila is significant.
“We believe there is meaningful white space to accelerate 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 numerous hair care deals within the past year include Gisou, the premium honey-based hair and beauty 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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