Unilever puts off planned Q-Tips sale on insufficient interest from bidders – WSJ

© Reuters. FILE PHOTO: The logo of Unilever is seen at the company’s office in Rotterdam, Netherlands August 21, 2018. REUTERS/Piroschka van de Wouw/File Photo

(Reuters) -Unilever has shelved the planned sale of ear swabs brand Q-Tips, along with some beauty and personal care brands, as there was not enough interest from bidders, the Wall Street Journal reported on Wednesday.

The consumer goods giant had earlier this year started exploring options for brands such as Q-Tips, Caress, TIGI, Timotei, Impulse and Monsavon after carving them out into a separate business in April.

The sale process of the brands, which had combined revenues of around 600 million euros ($693.84 million) in 2020, could be revived in the future, the WSJ report said, citing a source.

Unilever (LON:ULVR) did not immediately respond to a Reuters request for comment.

The Dove soap owner’s decision to explore a sale of some of its businesses comes at a time when the company is facing share price weakness and stiff competition from its rivals in areas of hygiene and packaged food. Its sale of a majority of its tea business is underway.

London-listed shares in Unilever have lost about 11% of their value so far this year. They fell slightly after the report, but pared losses soon after to trade flat by 1254 GMT.

($1 = 0.8648 euros)