Eduardo Campanella, President of Unilever Home Care, said: “This transaction is another step on our journey to evolve our portfolio towards higher-growth spaces, in line with our Growth Action Plan. Qinyuan provides essential water purification solutions to millions of loyal customers in China, and Yong Chao Venture Capital Co., Ltd., with its deep knowledge of the brand and the Chinese market, is ideally placed to grow the brand further.”
Mr. Ye Jianrong, from Yong Chao Venture Capital Co., Ltd., said: “We are thrilled to acquire Unilever’s stake in Qinyuan Group.”
The transaction is expected to close this year subject to customary closing conditions.
Financial terms of the agreement are undisclosed.