Unilever sells Welly bandage brand to Forward Consumer Partners, WSJ reports

Investing.com -- Unilever has agreed to sell Welly, a brand known for its colorful bandages, to private-equity firm Forward Consumer Partners, the companies’ executives said, according to a report from the Wall Street Journal. The deal is set to be announced today.

Unilever did not disclose the financial terms of the transaction. The company acquired Welly in 2021 from its founder Eric Ryan. The brand’s products include colorful adhesive bandages, first-aid kits and bug-bite relief patches.

Welly has been part of Unilever’s beauty and well-being segment, which includes brands such as Dove soap, Vaseline jelly and Liquid I.V. drink powders.

Forward Consumer Partners plans to bring back Ryan as a strategic adviser and board member as part of the deal. Ryan previously co-founded cleaning-products maker Method and vitamin-and-supplements brand Olly, which was also sold to Unilever.

The sale represents Unilever’s continued effort to streamline its portfolio after agreeing earlier this year to merge its food segment with spice company McCormick. The company has been shifting away from food and focusing on beauty, personal-care and home products.

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