Reuters exclusively reported that Unilever Plc (ULVR.L) has hired investment banks Morgan Stanley (MS.N) and Evercore Inc (EVR.N) to sell a basket of non-core beauty and personal care brands that include Q-Tips and Impulse, reviving an effort it abandoned two years ago. The revival of the sale process represents the first major move by Hein Schumacher, who took over as Unilever’s chief executive in July with a focus to streamline its business as it grapples with inflation.
Business & Finance
Unilever launches new bid to sell Q Tips and other brands
20 September 2023, 2:14 pm 1 minute
Market Impact
The brand portfolio, known as Elida Beauty, also includes Caress, TIGI, Timotei, Monsavon, St. Ives, Zwitsal, Ponds, Brut, Moussel, Alberto Balsam and Matey. Elida generated about $760 million in revenue in 2022. Unilever worked with Credit Suisse in 2021 to divest Elida but pulled the process later that year, after cherry-picking of the brands for sale by other consumer companies led to offers that did not meet its valuation expectations.
Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Business & FinanceRetail & Consumer Goods
Regions: Americas
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
