Clorox Could Sell STP, Armor All Brands
OAKLAND, Calif (
) --
Clorox
(CLX) - Get Clorox Company Report
is looking to auction its two well-known automotive brands, STP and Armor All, the
Wall Street Journal
reports, citing people familiar with the matter.
Clorox could hire an investment bank within the next couple of months to advise on the sale, these people added.
It isn't clear how much the two brands would fetch in a sale, though several people estimated Clorox would try to get about $800 million or more. Clorox has received expressions of interest for the two units, one person told the newspaper.
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Investment bankers have held discussions with consumer-product companies, such as
Unilever
(UL) - Get Unilever Plc Report
, and private-equity funds to gauge their interest if STP and Armor All are put on the block, the
Journal
reports.
A Clorox spokeswoman declined to comment for the
Journal
.
STP and Armor All have combined annual sales of about $300 million.
