Ares Management credit funds have led the backing of a merger of Suave Brands Company and Elida Beauty with $1.6bn in private debt financing, according to a report by Bloomberg. The two personal care businesses are backed by consumer-focused private equity firm Yellow Wood Partners.
The firm acquired both companies from Unilever in separate transactions, with the combined group now operating under the name Evermark.
Evermark’s portfolio of brands includes shampoo, body wash, and lotion products from Suave, as well as ChapStick. Elida brings household haircare and skincare products such as Caress, Pond’s, and Noxzema.
Yellow Wood acquired Suave and Elida in 2023 and 2024, respectively, with Ares also leading the debt financing for those transactions. Ares manages approximately $595bn in assets and has been expanding its presence in the private credit market.
