THE WHAT? Clorox is said to be seeking a buyer for its vitamins business, VMX, according to a report published by Reuters quoting ‘people familiar with the matter’.
THE DETAILS The owner of Burt’s Bees is said to have been working with Goldman Sachs for months but is yet to receive an offer it finds acceptable. The VMS division comprises RenewLife, Natural Vitality, NeoCell and Rainbow Light brands.
THE WHY? The sale is said to be a result of major losses incurred as a result of a failed attempt to scale the business. Clorox took a US$267 million writedown in 2021 as a result of lost market share, Reuters reports.
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