Suave Brands Company and Elida Beauty have completed a merger to create Evermark, a new global-focused personal care platform.
Both businesses are portfolio companies of Yellow Wood Partners, a consumer-focused private equity investment firm.
Evermark's combined brand portfolio comprises household names across hair care, body care, and lip care, including Suave, Q-tips, ChapStick, as well as Pond's (pictured), Caress, St. Ives, Noxzema and TIGI.
Evermark will also include established personal care brands in international markets, including V05, Brut, Impulse, Alberto Balsam, Timotei, and Monsavon.
The new name, Evermark, is said to reflect a commitment to the company's “millions of customers who use and trust these personal care brands on a daily basis”.
Terms of the transaction have not been disclosed.
"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," said Dana Schmaltz, Partner at Yellow Wood.
"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.”
As a unified organisation, Evermark anticipates annual retail sales of approximately US $1.9bn.
Daniel Alter, Chief Executive Officer of Suave Brands, will serve as CEO of Evermark, and Alfie Vivian, formerly CEO of Elida, will become President of the European business.
The current Suave management team, led by Alter, will remain in place to oversee the business, with additional leaders joining from Elida.
Alter added: "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.”