By Martinne Geller and Arno Schuetze

LONDON/FRANKFURT (Reuters) – Consumer goods group Reckitt Benckiser Group <RB.L> is preparing to sell some of its non-core personal care brands, including Veet hair removal cream and Clearasil acne cream, four sources familiar with the matter said on Monday.

The package of brands up for sale – which also includes E45 skin cream and Scholl foot products – could be worth as much as 1 billion pounds ($1.3 billion) in a sale, two of the sources said, based on estimates of annual earnings before interest, tax, depreciation and amortisation north of 120 million pounds.

The process comes as Reckitt is generating unusually strong sales in its hygiene business due to the COVID-19 pandemic, as people snap up its Lysol and Dettol disinfectants. It is also a strategic step for its new chief executive, Laxman Narasimhan, who has been in the top job for one year.

Veet hair removal creams may also be seeing a boost, another source said, as people curb salon visits and do more grooming at home.

Reckitt is working with advisers and has already sent out information on the assets, two of the sources said.

Reckitt declined to comment.

The brands are likely to appeal to private equity players, the sources said, since they are cash-generative.

They do not fit into the two main businesses Reckitt has been focusing on – health and hygiene.

Unilever <ULVR.L> <UNA.AS>, Beiersdorf <BEIG.DE> and Henkel <HNKG_p.DE> all sell personal care products and also therefore could be potential suitors, the sources said. Beiersdorf and Henkel, both based in Germany, are interested in parts of the package, two of the sources said.

Henkel declined to comment. Beiersdorf and Unilever were not immediately available.

UK-based Reckitt, which started out as a home cleaning company, for years worked to

PetWellClinic in retail center.
PetWellClinic in retail center.
PetWellClinic in retail center.

Knoxville, TN, Sept. 29, 2020 (GLOBE NEWSWIRE) — PetWellClinic, the Tennessee based franchise known for its unique walk-in model for veterinary care, got off to a hot start with its franchising efforts, signing agreements to launch 10 clinics across the Pittsburgh Metro Area. 

The 10 locations will be owned and operated by two separate franchise owners, Dave Kowcheck (8 clinics) and Dave and Colin Jones (2 clinics). 

Kowcheck is the former owner of a national construction company, and will be using his operational expertise to rapidly develop his franchise locations. He began his franchise search by working with David Jones, a franchise consultant whose primary service is helping individuals recognize and evaluate franchise opportunities that are a good fit for their skill set, personal interests, and goals.

Kowcheck explained, “An idea like PetWell never really crossed my mind before. I was looking for my next business venture and it was important to me that it be ahead of the curve in a growing industry. When Dave Jones presented the opportunity, it immediately piqued my interest. After diving into the weeds through due diligence, I found the disruptor I was looking for coupled with simple operational systems. I’m excited to bring the future of veterinary care to my hometown in Pittsburgh!”

Jones’ service to his clients typically runs its course after he’s guided them through the research and due diligence process, and has connected them with a brand that checks all the boxes. However, in the case of PetWellClinic, Jones was so compelled by the vision of the founding team, led by Dr. Sam Meisler, that he decided to jump in alongside Kowcheck to pursue franchise ownership himself.

“For the last 4 years I’ve been helping entrepreneurs make the leap into business ownership

By Martinne Geller and Arno Schuetze

LONDON/FRANKFURT (Reuters) – Consumer goods group Reckitt Benckiser Group

is preparing to sell some of its non-core personal care brands, including Veet hair removal cream and Clearasil acne cream, four sources familiar with the matter said on Monday.

The package of brands up for sale – which also includes E45 skin cream and Scholl foot products – could be worth as much as 1 billion pounds ($1.3 billion) in a sale, two of the sources said, based on estimates of annual earnings before interest, tax, depreciation and amortisation north of 120 million pounds.

The process comes as Reckitt is generating unusually strong sales in its hygiene business due to the COVID-19 pandemic, as people snap up its Lysol and Dettol disinfectants. It is also a strategic step for its new chief executive, Laxman Narasimhan, who has been in the top job for one year.

Veet hair removal creams may also be seeing a boost, another source said, as people curb salon visits and do more grooming at home.

Reckitt is working with advisers and has already sent out information on the assets, two of the sources said.

Reckitt declined to comment.

The brands are likely to appeal to private equity players, the sources said, since they are cash-generative.

They do not fit into the two main businesses Reckitt has been focusing on – health and hygiene.

Unilever
, Beiersdorf

and Henkel

all sell personal care products and also therefore could be potential suitors, the sources said. Beiersdorf and Henkel, both based in Germany, are interested in parts of the package, two of the sources said.

Henkel declined to comment. Beiersdorf and Unilever were not immediately available.

UK-based Reckitt, which started out as a home cleaning company, for years worked to build out its health-related

By Martinne Geller and Arno Schuetze

LONDON/FRANKFURT, Sept 28 (Reuters)Consumer goods group Reckitt Benckiser Group RB.L is preparing to sell some of its non-core personal care brands, including Veet hair removal cream and Clearasil acne cream, four sources familiar with the matter said on Monday.

The package of brands up for sale – which also includes E45 skin cream and Scholl foot products – could be worth as much as 1 billion pounds ($1.3 billion) in a sale, two of the sources said, based on estimates of annual earnings before interest, tax, depreciation and amortisation north of 120 million pounds.

The process comes as Reckitt is generating unusually strong sales in its hygiene business due to the COVID-19 pandemic, as people snap up its Lysol and Dettol disinfectants. It is also a strategic step for its new chief executive, Laxman Narasimhan, who has been in the top job for one year.

Veet hair removal creams may also be seeing a boost, another source said, as people curb salon visits and do more grooming at home.

Reckitt is working with advisers and has already sent out information on the assets, two of the sources said.

Reckitt declined to comment.

The brands are likely to appeal to private equity players, the sources said, since they are cash-generative.

They do not fit into the two main businesses Reckitt has been focusing on – health and hygiene.

Unilever ULVR.L, UNA.AS, Beiersdorf BEIG.DE and Henkel HNKG_p.DE all sell personal care products and also therefore could be potential suitors, the sources said. Beiersdorf and Henkel, both based in Germany, are interested in parts of the package, two of the sources said.

Henkel declined to comment. Beiersdorf and Unilever were not immediately available.

UK-based Reckitt, which started out as a home cleaning