Unilever agreed to sell Welly Health PBC to private investment firm Forward Consumer Partners, a move that fits the consumer goods company’s plan to focus its Wellbeing business on premium, faster-growing categories.
The companies announced the agreement Oct. 19. The purchase price was not disclosed. Forward’s transaction counsel said the carveout would establish Welly as an independent company under Forward’s sole ownership at closing.
Forward said Welly founder Eric Ryan would return as a strategic adviser and board member when the deal closes. Forward said the deal would be its eighth investment since its 2023 founding and its first consumer health investment.
Welly, founded by Ryan in 2018, sells bandages, ointments and other first-aid products. Unilever acquired a 51% stake in the U.S. brand on Jan. 29, 2021. Forward said it manages $925 million of committed capital.
Unilever Wellbeing CEO Jostein Solheim said the division is directing its strategy toward premium areas where it sees greater growth opportunities. He said new ownership would better serve Welly’s needs. In a separate portfolio move, Unilever agreed in March to combine its Foods business with McCormick & Company, Inc.
The sale can proceed only after the required closing conditions are met. Unilever is targeting a fourth-quarter 2026 closing; Forward expects the sale to be completed by year-end.
