US-based consumer products company Helen of Troy has announced that it is exploring to put its personal care business up for sale.
Personal care business division is a subgroup of the company’s Beauty segment and offers various products under brands Brut, Pert, Sure and Infusium.
The company said the sale will allow it to focus on its main brands such as Braun, Honeywell, Vicks, Hot Tools, OXO, Hydro Flask and PUR. These brands have high-volume, high margin and are more asset efficient.
The Wall Street Journal reported that the sale could be worth $300m.
Helen of Troy CEO Julien R Mininberg said: “Leadership brands remain the primary focus for Helen of Troy. As it relates to our beauty segment, today’s announcement of a formal process for the personal care brands allows us to concentrate resources on Beauty appliances, including our market-leading Hot Tools and Revlon brands.
“We believe our well-established strategy positions Helen of Troy for continued and further long-term sales and profit growth.
“That strategy centres on driving further improvements across our current businesses, our geographic footprint, our global shared services, and the overall strength of our organisation, while pursuing additions to our leadership brand portfolio through acquisition.
“Overall, we believe we have the balance sheet, the capabilities, the culture, and the passionate, owner-minded people to elevate our brands and business to a higher level of growth.”
Helen of Troy is a consumer products and appliance maker. In December 2017, the company sold its nutritional supplements business Healthy Directions to Direct Digital.
