12.18.23
Unilever has agreed to sell Elida Beauty, which comprises more than 20 beauty and personal care brands, to Yellow Wood Partners.
Brands under the Elida Beauty umbrella include Q-Tips, Caress, Timotei and Tigi. The business generated turnover of approximately €0.8 billion ($0.9 billion) in 2022.
The binding offer is subject to the usual closing conditions, regulatory requirements, and consultation processes. Completion is expected by mid-2024.
Financial terms of the binding offer are undisclosed.
This news comes months after Unilever also sold its Suave brand in North America to Yellow Wood Partners in February.
According to Technavio, the personal care market size is estimated to grow by $169.7 billion from 2022 to 2027 at a CAGR of 6.4%.
“Elida Beauty’s portfolio comprises iconic and classic beauty and personal care brands,” Garcia added. “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.”
Jean-Laurent Ingles, CEO of Elida Beauty said: “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.”
Brands under the Elida Beauty umbrella include Q-Tips, Caress, Timotei and Tigi. The business generated turnover of approximately €0.8 billion ($0.9 billion) in 2022.
The binding offer is subject to the usual closing conditions, regulatory requirements, and consultation processes. Completion is expected by mid-2024.
Financial terms of the binding offer are undisclosed.
This news comes months after Unilever also sold its Suave brand in North America to Yellow Wood Partners in February.
Optimizing Unilever’s Personal Care Portfolio
Fabian Garcia, President of Unilever Personal Care, said: “This marks another step towards the optimization 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.”According to Technavio, the personal care market size is estimated to grow by $169.7 billion from 2022 to 2027 at a CAGR of 6.4%.
“Elida Beauty’s portfolio comprises iconic and classic beauty and personal care brands,” Garcia added. “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.”
Jean-Laurent Ingles, CEO of Elida Beauty said: “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.”
