Unilever selling Suave brand to private equity firm

Englewood Cliffs-based Unilever USA is selling its beauty and personal care brand Suave to Yellow Wood Partners LLC, a private equity firm.

In a Feb. 14 press release announcing the planned acquisition, Unilever did not disclose financial terms of the deal, but said it is expected to close during the second quarter of 2023.

Outside of the U.S. and Canada, Suave will continue to be owned and operated by Unilever.

Esi Eggleston Bracey, president of Unilever USA and chief executive officer of Unilever Personal Care North America, said, “This is another step on our path to shift our portfolio towards [sic] 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.”

Yellow Wood, which is headquartered in Boston, invests exclusively in the consumer industry in the middle market and seeks to acquire branded consumer products that sell into a variety of channels, such as drug, food, specialty, value, club and e-commerce. Its portfolio includes footcare brand Dr. Scholl’s, self-tanning brand Isle of Paradise, skincare brand Freeman Beauty and beauty brand Real Techniques.

“Suave is ubiquitously recognized 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. We especially want to thank Unilever for its collaboration as we move forward to completing this carveout,” Dana Schmaltz, partner of Yellow Wood, said.