Unilever Sells Stake in Qinyuan Group to Yong Chao Venture Capital Co., Ltd.

Unilever Sells Stake in Qinyuan Group to Yong Chao Venture Capital Co., Ltd.

(IN BRIEF) Unilever has sold its stake in Qinyuan Group, known for water purification solutions in China, to Yong Chao Venture Capital Co., Ltd. This move is part of Unilever’s Growth Action Plan to focus on higher-growth areas. Eduardo Campanella, President of Unilever Home Care, highlighted Yong Chao’s potential to further develop the brand. The transaction is expected to close this year, with financial terms undisclosed.

(PRESS RELEASE) LONDON, 25-Jul-2024 — /EuropaWire/ — Unilever has announced the sale of its stake in Qinyuan Group, also known as “Truliva,” to Yong Chao Venture Capital Co., Ltd. Qinyuan Group is renowned for its range of water purification solutions catering to households in China.

Eduardo Campanella, President of Unilever Home Care, commented on the transaction, stating, “This move aligns with our Growth Action Plan, aimed at evolving our portfolio towards higher-growth areas. Qinyuan has been providing essential water purification solutions to millions of customers in China, and Yong Chao Venture Capital, with its extensive knowledge of the brand and the Chinese market, is well-positioned to further develop the brand.”

Mr. Ye Jianrong of Yong Chao Venture Capital expressed enthusiasm about the acquisition, stating, “We are thrilled to acquire Unilever’s stake in Qinyuan Group.”

The transaction is anticipated to be completed this year, pending customary closing conditions. Financial terms of the agreement have not been disclosed.

About Yong Chao Venture Capital Co., Ltd.
Yong Chao Venture Capital, founded by Mr. Ye Jianrong, has invested in more than thirty companies that are listed or propose to be listed and has made substantial achievements in the Chinese capital markets.

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SOURCE: Unilever