Unilever to sell Welly bandage brand to Forward Consumer Partners

By Reuters News

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

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