International: Unilever today announced that it has entered into an agreement to sell its direct selling business in Thailand – Unilever Life, to RS Group.
Unilever Life is a Multi-Level Marketing (MLM) direct selling business unit in Thailand, with a portfolio of three brands: Beyonde, Aviance, and iFresh.
Robert Candelino, CEO of Unilever Thailand, said: “For the past 20 years, Unilever Life has disrupted the market with its unique business model, dynamic innovation, wonderful people, and noble purpose of creating opportunities for people to realize their dreams. We are proud of this business, our people, and its legacy. We are excited for this business to begin its next chapter under the new ownership and the continued leadership of Unilever Life President, Suchada Theeravachirakul.”
Suchada Theeravachirakul, Head of Unilever Life, said: “Unilever Life is a strong business supporting Thai people to have a sustainable source of income. We look forward to the next stage of Unilever Life under the ownership of RS Group.”
Surachai Chetchotisak, CEO of RS Public Company Limited said: “Acquiring or investing in businesses or assets with growth potential (M&A) is one of the core strategies of RS Group, which will significantly expand the Company’s ecosystem. This decision to acquire Unilever Life – which is a purposeful business that helps Thai people become entrepreneurs through the trusted platforms, will strengthen RS Group’s commerce business model and reach a wider range of target groups in new distribution channels. Therefore, it increases business opportunities and creates added value for the company too.”
The offer is subject to certain conditions. Completion is expected in 3-4 months.
