Unilever sells cosmetics business Elida Beauty – Kommersant
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Unilever Corporation reported on the sale of its cosmetics business Elida Beauty to the American investment fund Yellow Wood Partners. The amount of the transaction has not been disclosed; the division’s revenue last year amounted to about €800 million. The deal is expected to be completed by the middle of next year.
Elida includes about 20 cosmetic brands, including Timotei, Q-Tips, Brut, Cares, Tigi. Unilever attempted to sell Elida back in 2021. As the media write, then she was not satisfied with the terms of the purchase offers. In September, she again began looking for a buyer for the business.
A few months ago, Unilever CEO Hein Schumacher said the company plans to focus on developing 30 key brands, which account for 70% of the company’s sales. The company has previously sought to reduce its brand portfolio in recent years and focus on a few key areas. Unilever for €4.5 billion in 2021 sold its tea business, which included the brands Lipton, Brooke Bond, etc. In May, the same Yellow Wood Partners bought the Suave cosmetics brand from the company.
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