Unilever streamlines its portfolio by divesting the Kate Somerville beauty business to Rare Beauty Brands.WHO: Kate Somerville Skincare was founded in 2004 by celebrity facialist Kate Somerville. The product range sits at the intersection of clinical skincare and prestige beauty. The brand's targeted treatments and products originate from the transformative results created for clients in the Skin Health Clinic on Melrose in Los Angeles.Headquartered in Boston, Massachusetts, Rare Beauty Brands is a brand platform from the leadership of Patchology built to scale prestige beauty brands. Rare Beauty Brands focuses on brands generating over $20 million in annual revenue.WHY: The divestment is part of Unilever's broader strategy to streamline its Prestige Division portfolio.IN THEIR OWN WORDS: Mary Carmen Gasco-Buisson, CEO of Unilever Prestige, commented, “Over the past 18 months, the team has worked diligently to accelerate Kate Somerville’s turnaround. As the brand enters a new chapter, we believe that its continued growth and success will be best supported by new ownership better aligned to its evolving needs. We are confident that under Chris Hobson’s leadership and the Rare Beauty Brands team, Kate Somerville has a bright future ahead.”Chris Hobson, President and CEO of Rare Beauty Brands, commented: “The acquisition of Kate Somerville is a significant milestone for Rare Beauty Brands. We have long admired the brand's innovative spirit and its commitment to results-driven skincare, which aligns perfectly with our mission to create products that delight, communities that empower, and brands that inspire.