Brut Perfume Parent Explores Sale Of Personal Care Business
Consumer products and appliance maker Helen of Troy Ltd said it was exploring a sale of its ill-performing personal care business that includes Pert shampoo and Brut perfume brands.
The company said a divestiture would allow it to focus on core brands such as Honeywell air purifiers and OXO kitchenware.
The announcement comes a day after the Wall Street Journal reported that a sale of the company's beauty business, which houses the personal care arm, could fetch about $300 million.
The beauty division racked up about $100 million in sales in the last reported quarter ended 30 November, a 3% decline from year earlier.
Sales in the personal care business has been suffering since at least 2015.
Helen of Troy, which has a market capitalisation of $2.83 billion, is just the latest company to look to offload its personal care business.
In September, Nestlé SA said it was looking to divest its skin health division.