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Unilever plc, a world-renowned British fast-moving consumer goods company, sold its Elida Beauty brand. It boasts a sizeable product portfolio with over 20 beauty and personal care brands, including Caress and Q-Tips.
Unilever is selling its Elida Beauty business unit to Yellow Wood Partners LLC, a Boston-based private investment firm. The company also sells its Timotei shampoo brand to redirect its focus to 30 prime essential products.
Unilever's Second Divestment Attempt of Elida Beauty
Reuters reported that this is the second time that Unilever attempted to sell its Elida Beauty division. The first time was in 2021, but the company withdrew the sale process later that year as the offers did not meet the firm's valuation expectations.
The sale process was revived in September this year, and Yellow Wood Partners won in the auction bidding for Elida Beauty. Unilever and the PEF company proceeded with the negotiations to finalize their deal, and they have reportedly been in talks since last week.
Yellow Wood Announces Its Acquisition of Unilever's Beauty Brand
This is Yellow Wood's second purchase of a non-core line from the London-based consumer goods firm this year. On Monday, Dec. 18, the investment company announced it bought Unilever's personal care unit, Elida Beauty.
"We are excited to work with Unilever's Elida Beauty team on the carve out and lead these brands into their next phase of growth and expansion," Yellow Wood's partner, Tad Yanagi, said in a press release. "We believe the Elida Beauty brands will flourish in the Yellow Wood operating model where our teams will work to build and enhance the growth and accessibility of this new platform."
Dana Schmaltz, a co-founding partner of Yellow Wood, further said, "We look forward to completing another successful transaction with Unilever to acquire these great consumer brands. Our partnership with Unilever continues to grow and we are excited to bring such fantastic brands as Q-tips, Caress, and VO5 among others into the Yellow Wood portfolio."
Photo by: Unilever Press Release
