Unilever PLC (LSE:ULVR) is in advanced talks to sell Elida Beauty Limited, a division that includes non-core beauty and personal care brands such as Q-Tips and Impulse, to private equity firm Yellow Wood Partners, LLC, people familiar with the matter said on December 14, 2023. Yellow Wood has emerged as the winner in an auction for Elida and is negotiating final aspects of the deal, which is expected to be worth less than $1 billion, the sources said. The deal talks could still end unsuccessfully, the sources added, asking not to be identified because the matter is confidential.

Unilever representatives did not immediately respond to requests for comment. Yellow Wood declined to comment. It would be the second time in a year that Yellow Wood buys non-core brands from Unilever.

In May, Yellow Wood acquired Unilever's personal care brand Suave.