Suave Brands Company and Elida Beauty have completed a merger to create Evermark, combining two Yellow Wood Partners portfolio companies into a single platform of legacy personal care brands spanning hair care, body care, skin care, and lip care. Financial terms were not disclosed.
The newly formed company will house a portfolio that includes Suave, Q-tips, ChapStick, Pond’s, Caress, St. Ives, Noxzema, and TIGI, alongside international brands such as V05, Brut, Impulse, Alberto Balsam, Timotei, and Monsavon. Evermark said the combined platform represents approximately $1.9 billion in annual retail sales and positions the business as a scaled independent personal care company with broad household penetration.
Leadership of the combined organization will be led by Daniel Alter, previously CEO of Suave Brands, who will serve as CEO of Evermark. Alfie Vivian, formerly CEO of Elida, will become President of the European business. Evermark said the current Suave management team will remain in place, with additional leaders joining from Elida.
Integration efforts are underway, and the transition to the Evermark name is expected to occur gradually across systems and materials in the coming months. The company said it will continue working with retail, supplier, and strategic partners during the transition.
Support: Morgan Stanley served as financial advisor to Suave, and Houlihan Lokey provided a fairness opinion to Yellow Wood. Latham & Watkins served as legal advisor for Elida, and Fried Frank served as legal advisor for Suave Brands.
KEY QUOTES:
“Personal care brands play an important role in consumers’ daily lives, with loyalty built on trust and consistent performance. By bringing Suave and Elida together, we can further strengthen our relationship with our customers, combine complementary strengths to invest in product quality, innovation, and accessibility, while preserving the product identities consumers already know and love. Dana, Tad and the rest of the Yellow Wood team have been instrumental in executing on this vision, and I look forward to continuing to work with them, along with the Elida team, to establish Evermark as a premier platform for some of the world’s most loved personal care brands.”
Daniel Alter, Chief Executive Officer, Suave Brands; Chief Executive Officer, Evermark
“Bringing these two companies together creates a platform of leading personal care brands that are valued and used daily by tens of millions of consumers across the globe. With its new larger scale and diversification, Evermark will be able to build on its extraordinary brand portfolio to better reach and serve consumers, retail partners and stakeholders. Utilizing Dan and his team’s agile managerial expertise, we can continue to bring innovative new products and solutions to the consumer market, and are excited to see the portfolio of Evermark brands evolve to meet our customers’ needs. We look forward to building on the existing platform and potentially adding additional great brands and product lines to the Company as we build and maintain a world-class consumer personal care packaged goods company.”
Dana Schmaltz, Partner, Yellow Wood Partners
