Helen of Troy Ltd. on Monday announced it is in the process of exploring the divestiture of its personal care business, a subset of the company’s beauty segment, to focus more attention on such brands as Hydro Flask.
The personal care business includes liquid, powder and aerosol products under brands such as Pert, Brut, Sure and Infusium. This potential divestiture advances the company’s strategy to focus its resources on its leadership brands. Those leadership brands—Braun, Honeywell, PUR, Vicks, Hot Tools, OXO and Hydro Flask—are among the highest volume, highest margin and most asset-efficient businesses at Helen of Troy.
Julien R. Mininberg, CEO, said: “Leadership brands remain the primary focus for Helen of Troy. As it relates to our beauty segment, today’s announcement of a formal process for the personal care brands allows us to concentrate resources on Beauty appliances, including our market-leading Hot Tools and Revlon brands.”
“We believe our well-established strategy positions Helen of Troy for continued and further long-term sales and profit growth. That strategy centers on driving further improvements across our current businesses, our geographic footprint, our global shared services, and the overall strength of our organization, while pursuing additions to our leadership brand portfolio through acquisition. Overall, we believe we have the balance sheet, the capabilities, the culture, and the passionate, owner-minded people to elevate our brands and business to a higher level of growth.”