THE WHAT? Unilever has announced the sale of its Suave brand in North America to Yellow Wood Partners LLC.
THE DETAILS The brand, which includes hair care, skin care, skin cleansing and deodorant products, will continue to be owned and operated by Unilever outside of the U.S. and Canada, with the transaction expected to close in Q2 2023 subject to regulatory approvals and closing conditions.
Financial terms of the sale have not been disclosed.
THE WHY? The sale is part of Unilever’s plan to shift its portfolio towards ‘strategic growth spaces,’ according to Esi Eggleston Bracey, President of Unilever USA and CEO of Unilever Personal Care North America.