Unilever is selling its Suave personal care brand in North America to private equity firm Yellow Wood Partners for an undisclosed sum.
The Suave brand includes hair care, skin care, skin cleansing and deodorant products. It will continue to be owned and operated by Unilever outside of the US and Canada.
Esi Eggleston Bracey, President of Unilever USA and CEO of Unilever Personal Care North America, said: “This is another step on our path to shift our portfolio towards strategic growth spaces. Suave has been a much-loved brand since the 1930s, and I am confident it will continue to thrive and serve consumers under its new ownership in North America.”
Dana Schmaltz, Partner of Yellow Wood Partners, added: “Suave is ubiquitously recognised for its long history of providing accessible high-quality beauty products to American consumers, and we are excited to add it to our portfolio of investments.”
The deal is expected to close in the second quarter of 2023, subject to regulatory approvals and closing conditions.
NAM Implications:
- Suave USA will become a different type of competitor under PE ownership…
- …with a greater emphasis on financial performance…
- …and freedom from the umbrella of Unilever.
- Time for US NAMs to reassess relative competitive appeal in the category?
- (For a little background re a change to PE ownership, see here)
