Colgate-Palmolive is allegedly exploring the sale of a range of personal care brands, including Softsoap, Irish Spring and Speed Stick.
According to a report by Reuters, sources familiar with the matter stated the FMCG giant is actively working with investment bank Goldman Sachs to begin the process.
The company’s personal care department has a range of products such as deodorants, bar and liquid soaps, shower gels and skincare products.
The FMCG giant allegedly has plans to sell off a few brands within its portfolio, which could have a total value of approximately $1bn.
This move comes as multiple consumer goods businesses are working on restructuring their portfolios to focus on high-performing brands.
There have been a series of major offloading as FMCG giants streamline their portfolios amid rising manufacturing costs and ongoing instability within the geopolitical environment.
Unilever announced major plans to divest its food business to McCormick and form a massive food and ingredients company.
Additionally, it separated from Magnum, which became an independently operated company and debuted on the stock market late last year.
At the beginning of this year, Unilever divested its Home Care business in South America following an analysis of its overall portfolio.
Last week Nestle also announced an agreement to sell off its mainstream vitamins, minerals and supplements business to Yellow Wood Partners.
Colgate-Palmolive has been contacted for an official comment.
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