Englewood Cliffs-based Unilever this week agreed to sell its non-core beauty unit Elida Beauty to Yellow Wood Partners for an undisclosed sum.
Through the deal, the Boston-based private equity firm Yellow Wood now owns Q-tips, Impulse, Caress, Timothy, VO5 and other brands.
“We are excited to work with Unilever’s Elida Beauty team on the carveout and lead these brands into their next phase of growth and expansion,” Tad Yanagi, partner at Yellow Wood Partners, said. “Consumers around the world 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. Our prior relationship with the Unilever team helped us understand the potential of Elida Beauty.”
The transaction is expected to be completed by mid-2024 upon completion of customary closing and regulatory approvals.
