Reckitt Benckiser to Sell Veet, Clearasil and Scholl

Unilever, Henkel and Beiersdorf showing interest in the sell-off.

Reckitt Benckiser has been focusing on health and hygiene for some years.

A strategy which prompted rumours of a corporate breakup into two standalone divisions.

The multinational has enjoyed a huge upsurge in global sales for power brands Dettol and Lysol during the Covid-19 pandemic.

According to analysts, the company is consulting with financial advisers about the sale of its non-core personal care brands, including Veet hair removal, Clearasil, Scholl foot care and E45 skin cream.

The lucrative division could attract bids as high as US$1.3 billion, reports Channel News Asia.

Three major multinationals are said to be interested in the sell-off – Unilever, Henkel and Beiersdorf, the owner of the Nivea and La Prairie skincare brands.

Reckitt Bencksiser products are available in more than 200 countries, including Australia.

Other major brands in its portfolio include Air Wick, Mortein, Durex condoms, Vanish, Finish, Calgon, Strepsils, Harpic and Nurofen.

The present company was founded in 1999 through a merger of the British company, Reckitt & Colman, and Dutch company Benckiser NV. The multinational’s global revenues reached US$16.61 billion in 2019.

The potential sale of the personal care brands marks the second time Reckitt Benckiser has sold off an entire division in recent years.

In 2017, McCormick & Co, the US spice and seasonings giant, bought the company’s food business for US$4.2 billion.

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