Unilever sells its Suave brand to Yellow Wood Partners
Unilever, a company known for its beauty and personal care brands, announced the sale of the Suave property to Yellow Wood Partners LLC. This brand produces products for hair care, skin care, facial cleansing and deodorant.
Yellow Wood Partners is a Boston-based private investment firm that invests exclusively in the middle-market consumer industry. The firm seeks to acquire branded consumer products sold in a variety of consumer channels, including mass, drug, food, specialty, value, club and e-commerce.
Esi Eggleston Bracey, who is the head of Unilever in the United States and in charge of its personal care on the continent, indicated that this step was an important part of moving into a higher growth arena. “This is another step in our journey to shift our portfolio into strategic growth spaces. Suave has been a beloved brand since the 1930s, and I am confident it will continue to thrive and serve consumers under its new ownership in North America,” he reiterated.
Dana Schmaltz, partner at Yellow Wood Partners, added, “suave is ubiquitously recognized for its long history of providing high-quality, affordable beauty products to American consumers and we are excited to add it to our investment portfolio. We especially want to thank Unilever for their partnership as we move forward to complete this spin-off.” However, Suave will continue to be owned and operated by Unilever outside the United States and Canada. The transaction is expected to become effective in the second quarter of 2023, subject to regulatory approvals and closing conditions.
