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Unilever sells personal care unit Elida Beauty to private equity firm

(Source: Bigstock)

Consumer goods giant Unilever has received a binding offer from Yellow Wood Partners to acquire Elida Beauty, with no financial terms disclosed.

Elida Beauty comprises more than 20 beauty and personal care brands, including Q-Tips, Caress, Timotei, and Tigi. The business generated a turnover of around €0.8 billion ($1.3 billion) last year.

Fabian Garcia, president of Unilever Personal Care, stated that the move marks another step towards optimising the company’s Personal Care portfolio.

“Our priority is to increase our Power Brands’ growth by investing in key strategic focus areas, such as driving unmissable brand superiority and scaling multi-year innovations,” he said.

Meanwhile, Tad Yanagi, partner of Yellow Wood Partners, said the team looks forward to working with the Elida Beauty team and leading its brands into their next phase of growth and expansion.

“We believe the brands will flourish in the Yellow Wood operating model where our teams will work to build and enhance growth and accessibility,” said Yanagi.

“Elida Beauty has an exciting future following the proposed acquisition by Yellow Wood Partners,” said Jean-Laurent Ingles, CEO, Elida Beauty. “I look forward to the next stage of our journey.”

The binding offer is subject to closing conditions, regulatory requirements, and consultation processes. Completion is expected by mid-2024.

Yellow Wood Partners is a private investment firm based in Boston that focuses on investing in the consumer industry within the middle market. The firm aims to acquire branded consumer products that are sold through a variety of channels, including mass, drug, food, specialty, value, club, and e-commerce.

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