Colgate-Palmolive is exploring the sale of mass-market brands Softsoap, Irish Spring, and Speed Stick. The company is working with Goldman Sachs on a potential divestiture valued at over $1 billion. This move aims to streamline the portfolio and prioritize higher-growth product lines.
The potential sale follows declining sales in the North American market. CEO Noel Wallace recently cited intensified regional competition as a primary challenge.
Divestment proceeds could fund reinvestment into the core oral care business or other fast-growing segments. Colgate-Palmolive stock traded slightly lower on September 11 following the news.