Yellow Wood Partners portfolio companies Suave Brands and Elida Beauty have completed a merger to create Evermark, a global personal care platform representing approximately $1.9 billion in annual retail sales.
The combined company brings together household brands including Suave, Q-tips, ChapStick, Pond's, Caress, St. Ives, Noxzema and TIGI, alongside established international brands such as V05, Brut, Impulse, Alberto Balsam, Timotei and Monsavon.
Daniel Alter, formerly chief executive officer of Suave Brands, will serve as CEO of Evermark, whilst Alfie Vivian, previously CEO of Elida, becomes president of the European business. The Suave management team will remain in place with additional leaders joining from Elida.
Dana Schmaltz, partner at Yellow Wood, said the merger creates a platform of leading personal care brands valued by tens of millions of consumers globally. "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," Schmaltz said.
Full-scale integration efforts are underway, with the transition to the Evermark name occurring gradually across systems and materials in the coming months. The company will continue to work closely with retail, supplier and strategic partners throughout the transition.
Morgan Stanley served as financial adviser to Suave, with Houlihan Lokey providing a fairness opinion to Yellow Wood. Latham & Watkins served as legal adviser for Elida and Fried Frank for Suave Brands.
Suave Brands and Elida Beauty merge to form Evermark
