Helen of Troy Limited has announced it is exploring divestment of its personal care business, a subset of its beauty segment.
Including liquid, powder and aerosol products, brands under Helen of Troy’s personal care umbrella include Pert and Sure. Divesting would allow the company to focus its resources on leadership brands.
“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,” said CEO Julien R. Mininberg.
He continued: “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.”