Henkel has closed the sale of two brands, Right Guard and Dry Idea, to Thriving Brands, effective 1 June, 2021. Both brands are mainly focused on the North American and UK markets.
The transaction is another milestone in the company’s ambition to actively shape its portfolio, an important pillar of its Purposeful Growth agenda. Last year, Henkel announced that the company has identified brands and categories with a total sales volume of more than EUR1 billion, predominantly in its consumer businesses, of which around 50 per cent are marked to be divested or discontinued by 2021.
The two brands that have now been sold were identified as non-core activities within the Henkel Beauty Care portfolio. Right Guard is a men’s grooming brand, offering anti-perspirants and shower gels and is mainly focused on the US and UK markets. Dry Idea is a North American women’s anti-perspirant brand. The transaction includes trademark rights and access to product formulations.
“Shaping a winning portfolio is a key element of our strategic agenda for purposeful growth. Our active portfolio management is an important driver in making our business successful for the future to win the 20s. This includes high-impact acquisitions, which are an integral part of our strategy, as well as divestments and discontinuations. The divestment will allow us to focus on and better support our core brands and categories within our Beauty Care business unit,” says Henkel CEO Carsten Knobel.