Unilever has on Monday announced that it has received a binding offer from private investment firm Yellow Wood Partners to acquire Elida Beauty.
The business, launched in 2021 by spinning off a number of smaller beauty and personal care brands, generated turnover of around €0.8 billion (0.69bn) in 2022. Elida Beauty comprises more than 20 brands including Q-Tips, Caress, Timotei and Tigi.
“This marks another step towards the optimisation of our Personal Care portfolio,” Fabian Garcia, president of Unilever Personal Care, said.
“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.”
Financial terms of deal, which is expected to be completed by mid-2024, are undisclosed.