Unilever to sell Welly bandage brand to Forward Consumer Partners
Unilever to sell Welly bandage brand to Forward Consumer Partners Oct 19 (Reuters) - Unilever ULVR.L 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)
((Ankita.Bora@thomsonreuters.com))
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