Unilever to Sell Elizabeth Arden Perfumes Unit

Anglo-Dutch consumer goods company Unilever has agreed to sell its Elizabeth Arden perfumes business for $225 million as part of its effort to shed operations that do not meet its strategic needs. Unilever, whose brands include Pepsodent toothpaste, Lipton tea and Ragu spaghetti sauce, said it has reached the deal with FFI Fragrances, a perfume-maker based in Miami Lakes, Fla. The sale is the latest step in Unilever’s campaign to reduce its number of brands to 400 from around 1,600 and scale back its work force. The deal involves the transfer of about 1,500 employees to FFI. The Elizabeth Arden line of fragrances and skin-care products includes the White Shoulders brand. FFI will acquire the license to produce the Passion and Elizabeth Taylor’s White Diamonds brands of perfume. Unilever’s American depositary receipts closed off 25 cents at $27.88 on the NYSE.

*

Guide to Our Staff: Need to reach Business section reporters or editors? A guide to the section’s staff can be found at https://www.latimes.com/bizstaff.