Unilever to divest Suave brand in North America to Yellow Wood Partners

British consumer goods company Unilever will divest its Suave beauty and personal care brand in North America to Yellow Wood Partners, a Boston-based private equity firm.

The financial terms of the transaction were not disclosed.

The Suave brand sells products for women, men, and kids in ecommerce platforms and mass retailers.

The brand includes hair and body products like shampoos, treatments, conditioners, and serums, body wash, styling products, deodorants, antiperspirants, and skin care.

Esi Eggleston Bracey — Unilever USA President and Unilever Personal Care North America CEO, 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.”

Unilever will continue to own and operate Suave outside of the US and Canada.

Dana Schmaltz — Yellow Wood Partners Partner said: “Yellow Wood’s intense focus on investing in and operating consumer brands led us to purchase the iconic Suave brand in North America from Unilever.

“Suave is ubiquitously recognized for its long history of providing accessible high-quality beauty products to American consumers dating to the 1930s and we are excited to add it to our portfolio of investments.”

Houlihan Lokey served as financial advisor to Yellow Wood Partners while Fried, Frank, Harris, Shriver & Jacobson acted as legal counsel in connection with this transaction.

The deal is anticipated to complete in the second quarter of 2023, subject to regulatory approvals and closing conditions.