Oct 19 (Reuters) – Unilever on Monday said it has agreed to sell Welly Health PBC to private-equity firm Forward Consumer Partners, but did not disclose financial terms of the sale.
The consumer products giant had acquired a majority stake in the US brand, known for its colorful adhesive bandages, in 2021 from Welly co-founder Eric Ryan for an undisclosed price.
• The deal is expected to close in the fourth quarter, subject to customary closing conditions
• Forward Consumer Partners is expected to bring back Ryan as a strategic adviser and board member, the Wall Street Journal, which first reported the story, said
• Unilever, the maker of Knorr stock cubes and Hellmann’s mayonnaise, has been shifting towards beauty and well-being brands under CEO Fernando Fernandez
• Forward Consumer Partners did not immediately respond to a Reuters request for comment
(Reporting by Abigail Summerville in New York and Ankita Bora in Bengaluru; Editing by Joyjeet Das)
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