NEW YORK (TheStreet) -- Clorox (CLX) may be best known for its stain-busting bleach, but the consumer-products giant also has big plans for its Hidden Valley salad dressing and all-natural personal-care line, Burt's Bees, as it seeks out new sources of growth.
"We think Hidden Valley is a gem of a brand that has the right to be in categories that we aren't in today," said Clorox CEO Benno Dorer in an interview. How that gem of a business is being polished up for Wall Street's eyes is taking two different shapes.
First, Clorox is adding a bit of flavor pizzazz to Hidden Valley's bottled salad dressings, which tend to only conjure up images of creamy, thick ranch.
"One of our strategies is to address market share opportunities in ranch whips with additional flavors," said Dorer, who became CEO in November.
Recently, Hidden Valley has launched three new bottled salad-dressing flavors -- cucumber, avocado and sweet chili ranch -- as it attempts to gain share on the shelves of Wal-Mart (WMT) and Target (TGT).
For Hidden Valley's dry powder-dressing business, which Dorer describes as "very profitable," Clorox has tapped into the country's infatuation with a Greek yogurt-based product of its own. Hidden Valley Greek Yogurt Salad Dressing Mix is gluten free and offers a lower calorie alternative to normal ranch dressing.
The other component to Clorox unlocking value from the Hidden Valley brand is through the development of adjacent products, such as low-calorie dips in small containers for fans of snacking. "We launched pasta salads last year, and they've done well," Dorer said, mentioning that Clorox sees an opportunity to further expand into pre-packaged foods or flavor enhancers that help spice up home-prepared meals.