Unilever Revives Attempt To Sell Some Non-Core Brands
Consumer goods giant Unilever is reviving efforts to sell some of its non-core beauty and personal care brands, including Q-Tips and Impulse.
Unilever has hired investment banks Morgan Stanley and Evercore to sell a portfolio of brands under its Elida Beauty business, Belgian publication Gondola.be reported, citing a Reuters report.
The initiative marks the revival of an attempt that was made two years ago and the ‘first major measure’ by new chief executive Hein Schumacher, who is focusing on streamlining the company’s operations, the report said.
Elida Beauty
In 2021, Unilever teamed up with Credit Suisse to sell Elida Beauty, but pulled the process later that year as offers did not meet its valuation expectations.
In 2022, Elida Beauty generated cumulative sales of approximately $760 million. Sources told Reuters that the sale of Elida Beauty could be worth several billion dollars.
Other brands in the Elida Beauty range include Caress, TIGI, Timotei, Monsavon, St. Ives, Zwitsal, Ponds, Brut, Moussel, Alberto Balsam and Matey.
Related news
Sainsbury’s To Launch Unified Retail Media Platform, Nectar360 Pollen
UK retailer Sainsbury’s has announced plans to launch Nectar360 Pollen,…
Read more >New Product Launches In Spain Hit New Low, Study Finds
Innovation in Spain’s FMCG sector is at a record low,…
Read more >Morgan Stanley would also support Hungarian foundations
Morgan Stanley’s civil society competition for Hungarian charities has opened…
Read more >Related news
Extreme summer, record heat: this is how chain stores are reacting to the heat
Budapest has never experienced such a high temperature as this…
Read more >Draft decree on food vouchers for pensioners completed
The draft government decree on a 30,000-forint food voucher for…
Read more >K&H: Middle-aged people perceive inflation to be much more severe than the actual data shows
The inflation perception of middle-aged Hungarians continues to far exceed…
Read more >