The Unilever group has concluded an agreement to sell its Elida Beauty business – a portfolio of brands including Q-tips, Impulse, Caress, Tigi, Timotei, Monsavon, Brut, Moussel, Alberto Balsam, and VO5 – to Boston-based private equity firm Yellow Wood Partners. The business generated turnover of around EUR 0.8 billion in 2022.
“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,” said Fabian Garcia, President of Unilever Personal Care.
“Consumers around the world love these brands as they are an important part of their daily lives. Our prior relationship with the Unilever team helped us understand the potential of Elida Beauty,” added Tad Yanagi, Partner at Yellow Wood Partners.
Financial terms of the deal have not been disclosed. The transaction is expected to be completed by mid-2024 upon completion of customary closing and regulatory approvals.