By Abigail Summerville (Reuters) - Unilever Plc has hired investment banks Morgan Stanley and Evercore Inc to sell a basket of non-core beauty and ...
By Abigail Summerville - Unilever Plc has hired investment banks Morgan Stanley and Evercore Inc to sell a basket of non-core beauty and personal care brands that include Q-Tips and Impulse,SaltWire's Atlantic regional weather forecast for September 20, 2023 | SaltWire - Unilever Plc has hired investment banks Morgan Stanley and Evercore Inc 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, according...
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, according to the sources. Since then, Unilever has worked to make Elida an autonomous unit that could also appeal in its entirety to private equity firms, the sources added. Morgan Stanley and Evercore have now contacted several parties to gauge acquisition interest in Elida for what could be a multi-billion-dollar deal, according to the sources.
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Exclusive-Unilever launches new bid to sell Q Tips and other brands-sourcesUnilever Plc has hired investment banks Morgan Stanley and Evercore Inc 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, according to people familiar with the matter. The revival of the sale process, which has not been previously reported, 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. The brand portfolio, known as Elida Beauty, also includes Caress, TIGI, Timotei, Monsavon, St. Ives, Zwitsal, Ponds, Brut, Moussel, Alberto Balsam and Matey.
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