Unilever is reportedly restarting the sale process for Elida Beauty, which comprises brands such as Caress, TIGI, Timotei, Monsavon, St. Ives, Zwitsal, Ponds, Brut, Moussel, Alberto Balsam, Matey, Q-Tips and Impulse. Any eventual deal could be valued in the multi-billion-dollar range, per Reuters.
The company previously sought to sell the unit in 2021 but, according to Reuters, "pulled the process later that year, after cherry-picking of the brands for sale by other consumer companies led to offers that did not meet its valuation expectations..."
The move comes following Q2 and first-half 2023 results that showed beauty and well-being sales jumped 9.1% year-over-year, with turnover totaling €6.2 billion, a rise of 8.6% versus the same period of 2022. Q2 turnover was up nearly 9%, totaling €3.1 billion.