Consumer goods giant Unilever on Monday said it would sell Elida Beauty, its non-core beauty and personal care division, to US private equity firm Yellow Wood Partners, reports Reuters.
The financial terms of the deal, expected to be completed in mid-2024, were not disclosed.
Elida's portfolio comprises of more than 20 beauty and personal care brands including Q-Tips, Brut, Caress, Timotei and Tigi and the business generated about 800 million pounds ($1.02 billion) in revenues in 2022.
Unilever first attempted to divest Elida in 2021 but pulled the process later that year.
The company, which also makes Dove soap and Ben & Jerry's ice cream, revived the sale process in September.
Yellow Wood emerged as the winner in an auction for the business and was negotiating final aspects of the deal, Reuters reported last week.
Unilever to sell Elida Beauty to Yellow Wood
FE Team | Published: December 18, 2023 23:39:52
Unilever to sell Elida Beauty to Yellow Wood
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