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Oct 19 — Unilever said on Monday 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, first reported by the Wall Street Journal, is expected to close in the fourth quarter, subject to customary closing conditions
• Separately, Forward Consumer Partners announced that Ryan will return to the business as a strategic advisor and a member of the board
• 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 said the acquisition of Welly would mark its first investment in the consumer health sector
(Reporting by Ankita Bora in Bengaluru and Abigail Summerville in New York; Editing by Joyjeet Das)
