Forward Consumer Partners has signed an agreement to acquire Welly Health PBC from Unilever, marking the private investment firm’s first move into the consumer health category.
Founded in 2018 by serial entrepreneur Eric Ryan, Welly is a first-aid and bandage brand offering products designed to clean, protect, and support healing for everyday cuts, scrapes, and minor injuries.
The acquisition represents Forward Consumer Partners’ eighth investment since the firm’s launch in 2023. Forward said the deal expands its portfolio into a new segment of the fast-moving consumer goods market while giving it ownership of a consumer healthcare brand with established awareness and room for further growth.
Concurrent with the closing of the transaction, Ryan is expected to return to Welly as a strategic advisor and member of the Board of Directors.
Forward plans to support the next phase of Welly’s development by providing additional resources, strategic guidance, and operating support. The firm focuses on consumer businesses with established brands and products that it believes can benefit from long-term investment and expansion.
The transaction also reflects Forward’s strategy of working with large strategic companies to acquire consumer brands that may have greater growth potential under focused ownership.
Welly’s product portfolio includes bandages, ointments, and other first-aid essentials positioned around a combination of design, performance, and everyday usability.
Forward currently manages approximately $925 million in committed capital. Its existing portfolio includes Kodiak, Justin’s, Firehook, Xochitl, Bar Keeper’s Friend, PAPATUI, and Via Carota Craft Cocktails.
The Welly transaction is expected to close by the end of 2026, subject to customary closing conditions.
KEY QUOTES:
“Welly is a textbook Forward asset: a powerful brand that makes beloved products, with an enduring track record of success and significant untapped potential. This investment also expands Forward’s reach into new sectors of the fast-moving consumer goods landscape, marking our first consumer health investment. We are honored to be entrusted with the next chapter of the Welly story.”
Matt Leeds, Founder And Managing Partner Of Forward Consumer Partners
“Welly is a beloved consumer brand, and this transaction represents Forward’s approach to working with large strategics around powerful assets with significant opportunity ahead. Our ability to move with speed and integrity during transactions creates a template for many other such partnerships in the future. We are inspired by the opportunity that lies ahead for Welly and are excited to help the Company make progress toward its potential.”
Brandon Staub, Partner At Forward Consumer Partners
