THE WHAT? Henkel has closed the sale of two deodorant brands, Right Guard and Dry Idea to Thriving Brands, effective immediately.
THE DETAILS The deal includes trademark rights and access to product formulations for both the men’s grooming brand and women’s anti-perspirant marque.
“Shaping a winning portfolio is a key element of our strategic agenda for purposeful growth. Our active portfolio management is an important driver in making our business successful for the future to win the 20s. This includes high-impact acquisitions, which are an integral part of our strategy, as well as divestments and discontinuations. The divestment will allow us to focus on and better support our core brands and categories within our Beauty Care business unit,” said Henkel CEO Carsten Knobel.
THE WHY? The transaction is another milestone in the company’s ambition to actively shape its portfolio, a key tenet of its Purposeful Growth agenda, Henkel said. It has identified brands and categories with a total sales volume of more than €1 billion, of which around 50 percent have been earmarked for divestment or discontinuation.