According to information obtained by News, Unilever is collaborating with advisors to sell Kate Somerville, the high-end skincare brand it purchased in 2015.
PricewaterhouseCoopers was hired by the company to handle inquiries from potential buyers, according to sources in the city this past weekend.
Unilever’s proposed price for Kate Somerville, a well-known brand in Hollywood that was a component of the company’s Prestige personal care line, was not made apparent.
According to insiders, Unilever also intended to sell REN, a different skincare brand that it had already acquired in 2015.
Less than a year has passed since a reorganization.
In July 2023, Hein Schumacher, a former executive of HJ Heinz, was named CEO of Unilever in response to criticism of the company’s performance from certain shareholders.The company has since made it clear that it intends to demerge its sizable ice cream operation, which is the parent company of Wall’s, Ben & Jerry’s, and Magnum.
Another option is to sell the company to private equity investors.
