Forward Consumer Partners has agreed to acquire Welly Health from Unilever, making the first aid brand an independent company wholly owned by Forward. Founder Eric Ryan will return as a strategic adviser and board member. The deal, Forward's eighth investment since 2023 and its first in consumer health, follows the firm's second carve-out in 12 months.
Financial terms were not disclosed. Forward manages $925 million in committed capital and previously invested in brands like Kodiak and Justin's. Welly, a public benefit corporation founded in 2016, first found success with fabric bandages and now offers a full range of first aid products designed to clean, protect and heal everyday injuries.
Perella Weinberg Partners served as financial adviser to Unilever, while A&O Shearman provided legal counsel. Kirkland & Ellis was legal counsel to Forward. The transaction is expected to close by the end of 2026.
Source: PE Hub · Summarized by HeadlinesBriefing