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(Sharecast News) - Several slower-performing Unilever brands were set to be carved out, it was announced on Monday, after consumer brands private equity specialist Yellow Wood Partners announced a binding offer for Elida Beauty.
Unilever's Elida Beauty portfolio includes Q-tips, Impulse, Caress, Tigi, Timotei, Monsavon, Brut, Moussel, Alberto Balsam, and VO5.
Yellow Wood already owns Suave Brands, Dr Scholl's, sexual wellness device brand PlusOne, beauty brands Real Techniques and EcoTools, self-tanning brands Isle of Paradise, Tanologist, and TanLuxe, and skincare brands Byoma and Freeman Beauty.
The firm said the acquisition was expected to be finalised by mid-2024, subject to the completion of standard closing procedures and regulatory approvals.
"We look forward to completing another successful transaction with Unilever to acquire these great consumer brands," said Dana Schmaltz at Yellow Wood Partners.
"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."
Schmaltz said Yellow Wood's team had become adept at leading complex corporate carve-outs and creating the critical functions required of an independent company to implement strategies to achieve long-term growth.
"This will be our fourth brand carve out from a major CPG company over the last four years, and we look forward to continuing our differentiated strategy to acquire other brands in the future."
At 1356 GMT, shares in Unilever were up 0.01% at 3,756p.
Reporting by Josh White for Sharecast.com.
