U.S.-headquartered and LVMH-backed private equity firm L Catterton has acquired a “significant” minority stake in Swedish sustainable hair care brand Maria Nila. The partnership aims to develop the brand’s product portfolio and sales channels on a global level.
Founded in 1999 in the South of Sweden by Ann and Ulf Wikström, who aimed to create professional haircare products that would be friendly to the planet, Maria Nila provides an extensive line of certified cruelty-free and 100% vegan products of haircare, styling, and treatments. The brand claims to place sustainability at the heart of every process, from product formulation to fulfilment, and its activities are climate compensated.
“At Maria Nila, we have always been driven by a single purpose – to provide the world with professional beauty in a friendly, curious, and honest way – and to do this responsibly and sustainably. As the second generation of a family-owned business, I am incredibly excited to partner with a firm who shares our commitment to these core values,” said Marcus Wikström, CEO of Maria Nila. “This partnership will allow us to accelerate the development of our product portfolio and brand and expand even further across key European and U.S. markets. With L Catterton’s successful track record of supporting founder-led and family businesses, we are confident that we’ve found the right partner.”
Marcus Wikström, the son of Maria Nila’s founders, will continue to lead the company and remain as CEO.
“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. “As the #1 professional haircare brand in Sweden with a strong consumer following, the growth potential for Maria Nila is significant. We believe there is meaningful whitespace to accelerate global expansion and increase share in underpenetrated categories by leveraging the brand’s successful go-to-market strategy and differentiated brand proposition.”