OAKLAND, California (
is close to an agreement to sell its STP and Armor All car-care brands to private-equity firm Avista Capital Partners for $750 million to $800 million, a report says.
The sale may be announced in the coming days,
reports, citing two people with knowledge of the matter.
The units have been up for sale since April.
A Clorox spokesman declined to comment for
on speculation and said the company will make an announcement if and when it reaches an agreement on a sale of the auto-care brands.
Other firms that reportedly looked at the Clorox assets were Blackstone Group, Golden Gate Capital and Castle Harlan.
STP and Armor All have annual sales of about $300 million.
Clorox could use proceeds from the sale to help bolster its household and professional-cleaning businesses in Latin America and Asia, places where Clorox has said it wants to expand,
-- Written by Joseph Woelfel
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