By Ian Walker

Unilever is selling the Elida Beauty business to Yellow Wood Partners for an undisclosed sum, as part of the company's plan to optimize its personal care portfolio and grow its power brands.

The Anglo-Dutch consumer goods company--which houses Ben & Jerry's ice cream and Dove soap among its brands--said Monday that the sale followed a binding offer from Yellow Wood to buy the business.

Elida Beauty comprises more than 20 beauty and personal care brands including Q-Tips, Caress, Timotei and Tigi. The business generated turnover of around 800 million euros ($1.01 billion) in 2022.

The sale is expected to complete by the middle of next year, subject to the usual conditions, Unilever said.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

December 18, 2023 02:42 ET (07:42 GMT)

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