Lifes2good sells hair restoration brand to Church & Dwight

Health and beauty brand Lifes2good has sold hair restoration brand Viviscal to US-based Church & Dwight for €150m.

Viviscal products are mainly composed of shark and mollusk powder developed by a team of academics in Finland, reported Irishtimes.com

Lifes2good's founder James Murphy purchased Viviscal's UK distributor in 2002. The product was initially developed to treat balding man but later shifted its focus to also treat female hair loss.

The divestment comes two years after Lifes2Good received a €5m investment from BDO Development Capital Fund, which offers capital to small and medium enterprises.

With a foray into the US market, sales at Lifes2Good reached more than €50m in 2015, an increase of €8m from 2014. Viviscal is now available in over 25,000 stores in the US, reported Independent.ie. The product is also endorsed by celebrities such as Reese Witherspoon and Jennifer Aniston.

Commenting on the sale, Murphy was quoted by Irishtimes as saying: “We have built up this fantastic selling and marketing platform using all three channels. Our intention is to find more brands and scale them up like we did with Viviscal.

“Then we will do the same job: go back to the big guys, and put them on the table.”

The transition of Viviscal to Dwight & Church will be managed by Lifes2Good for another six to nine months, reported Irishtimes.com