Unilever sells non-core personal care brands to Yellow Wood Partners

Unilever has sold its portfolio of brands under its Elida Beauty business to Yellow Wood Partners, a Boston-based private equity firm focused on investing in consumer businesses. 

Formed in 2021, Elida Beauty features over 20 non-core Unilever beauty and personal care brands, such as Q-tips, Impulse, Caress, Tigi, Timotei, Monsavon, Brut, Moussel, Alberto Balsam, and VO5.

The acquisition is expected to be completed by mid-2024 upon completion of customary closing and regulatory approvals.

It adds to Yellow Wood's existing portfolio of consumer brands, including Real Techniques, Byoma, EcoTools, Isle of Paradise, Tanologist and TanLuxe, amongst others.

Tad Yanagi, Partner at Yellow Wood Partners, said, "We are excited to work with Unilever's Elida Beauty team on the carve out and lead these brands into their next phase of growth and expansion.

"Consumers love these brands as they are an important part of their daily lives. We believe the Elida Beauty brands will flourish in the Yellow Wood operating model where our teams will work to build and enhance growth and accessibility of this new platform."

The news comes after Unilever appointed a new Chief Financial Officer in October, following a 3.8% decline in turnover for the third quarter.

Unilever introduced a new action plan to focus on "faster growth, greater productivity and simplicity, powered by a stronger performance culture".

To drive this strategy, the group named Fernando Fernandez as its new CFO - effective from 1 January 2024. He will replace Graeme Pitkethly, who announced his decision to retire earlier this year.