Unilever has agreed to sell Welly, the colourful bandage brand, to private-equity firm Forward Consumer Partners.

The Wall Street Journal reported the deal. Terms were not disclosed.

Welly makes adhesive bandages, first-aid kits and bug-bite relief patches.

Unilever bought Welly in 2021 from founder Eric Ryan, who co-founded Method and Olly.

Ryan is expected to return as a strategic adviser and board member.

Forward Consumer Partners, started by ex-L Catterton partner Matt Leeds, also owns Justin’s peanut butter.

Unilever is streamlining around beauty, personal care and home products after selling tea and spreads units.

Read the full article for more details on Unilever’s sale of Welly.