Unilever to sell Elida Beauty business to Yellow Wood Partners
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Unilever has today announced that it has received a binding offer from Yellow Wood Partners LLC to acquire Elida Beauty.
Elida Beauty comprises more than 20 beauty and personal care brands including Q-Tips, Caress, Timotei and Tigi. The business generated turnover of around €0.8 billion in 2022.
Fabian Garcia, President of Unilever Personal Care, said: “This marks another step towards the optimisation of our Personal Care portfolio. Our priority is to step up the growth of our Power Brands by investing behind key strategic focus areas such as driving unmissable brand superiority and scaling multi-year innovations. Elida Beauty’s portfolio comprises iconic and classic beauty and personal care brands. I am sure under the new ownership they will continue to prosper and serve consumers across North America and Europe.”
Tad Yanagi, Partner of Yellow Wood Partners, said: “We are excited to work with the Elida Beauty team to lead these brands into their next phase of growth and expansion. Consumers around the world love these brands as they are an important part of their daily lives. We believe the brands will flourish in the Yellow Wood operating model where our teams will work to build and enhance growth and accessibility.”
Jean-Laurent Ingles, CEO of Elida Beauty said: “Elida Beauty has an exciting future following the proposed acquisition by Yellow Wood Partners and I look forward to the next stage of our journey.”
The binding offer is subject to the usual closing conditions, regulatory requirements, and consultation processes. Completion is expected by mid-2024.
Financial terms of the binding offer are undisclosed.