Unilever announced that it has successfully concluded the sale of its non-core beauty and personal care unit, Elida Beauty, to US private equity firm Yellow Wood Partners.
The transaction, expected to be finalized by mid-2024, includes the transfer of 20 renowned brands such as Q-Tips, Brut, Caress, Timotei, and Tigi, which collectively generated approximately $1.02 billion in revenues in 2022.
This divestment aligns with Unilever’s broader strategic direction under the leadership of its new CEO, Hein Schumacher. Schumacher has emphasized a focused approach, intending to concentrate on 30 key brands that account for nearly 70% of the company’s sales.
Yellow Wood Partners, recognized for its consumer brand portfolio, has previously acquired Unilever’s personal care brand Suave in May. Alongside Suave, their portfolio encompasses well-known names such as Dr. Scholl’s and Scholl International (acquired from Reckitt). They also hold various tanning brands such as EcoTools, Isle of Paradise, Tanologist, and TanLuxe, as well as Byoma and Freeman Beauty. Furthermore, Yellow Wood owns Beacon Wellness Brands, which oversees PlusOne, a brand specializing in sexual wellness devices.
The news comes on the heels of news that Unilever is in talks with Yellow Wood Partners to sell 13 brands under the Elida Beauty umbrella in a deal expected to be worth no more than $1 billion.
The financial terms of this transaction have not been disclosed to the public.
