2023-03-24 10:24:48 ET
Clorox ( NYSE: CLX ) is exploring a potential sale of its vitamins business, per reports on Friday.
The vitamins and supplements business is contained within the wellness segment for the company best known for its cleaning products. The subsegment, which includes RenewLife, NeoCell, and Rainbow Light brands, only accounts for about 3% of annual revenue and was noted as on the decline in the most recent earnings release. The business has historically posted net losses as well.
According to Reuters , Clorox has enlisted Goldman Sachs to assist with a sale of the operations, but has failed to find a suitor as of yet. The company purchased many of the brands in its Vitamins, Minerals, and Supplements portfolio for hundreds of millions of dollars in recent years , but has been forced to write down many of these acquisitions in recent years.
Read more on the company’s most recent earnings result .
For further details see:
Clorox reportedly seeking sale of money-losing vitamins business