Unilever is to sell its Suave beauty and personal-care brand in North America to Boston-based private- equity firm Yellow Wood Partners LLC. The Suave brand includes haircare, skincare, skin cleansing and deodorants. Suave will continue to be owned and operated by Unilever outside the US and Canada.
The company said that move is part of the group’s strategy to shift its portfolio towards what it calls ‘strategic growth spaces’.
Yellow Wood’s portfolio of consumer brands includes footcare brand Dr. Scholl’s, Beacon Wellness Brands, Real Techniques and EcoTools, Isle of Paradise, Tanologist, TanLuxe and skincare brand Freeman Beauty.
The transaction is expected to close in the second quarter of 2023.