Unilever, the multinational consumer goods giant, has announced it has received a binding offer from Yellow Wood Partners, a Boston-based private equity firm, to acquire Elida Beauty for an undisclosed amount.
Elida Beauty has a portfolio of 20 beauty and personal care brands including Q-tips, Impulse, Caress, Tigi, Timotei, Monsavon, Brut, Moussel, Alberto Balsam, and VO5, which together generated revenue of around £800 million ($980 million) in 2022.
Fabian Garcia, Unilever Personal Care president, commented: “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”.
Jean-Laurent Ingles, CEO of Elida Beauty added: “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 transaction is expected to be completed by mid-2024, subject to regulatory requirements and consultation processes.