Colgate-Palmolive weighs sale of Softsoap, Irish Spring and Speed Stick brands
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Close-up of a hand holding a Colgate toothpaste box. File photo. |
Colgate-Palmolive is considering selling several mass-market personal care brands, including Softsoap, Irish Spring and Speed Stick, as the consumer goods company reviews its portfolio and seeks to focus resources on its core businesses, people familiar with the matter said.
The company is working with Goldman Sachs on a potential divestiture, according to the people, who requested anonymity because the discussions are private. The brands being considered could collectively be worth more than $1 billion, although no final decision has been made and the process could change.
Colgate-Palmolive's personal care business includes deodorants, bar and liquid soaps, shower gels and skin care products. The company is considering selling only some brands within the division rather than exiting personal care altogether.
Colgate-Palmolive and Goldman Sachs declined to comment on the potential sale.
The review comes as large consumer goods companies increasingly reshape their portfolios amid higher costs, tariffs and pressure on household spending. Selling non-core businesses can give companies more money and management attention to invest in their strongest brands.
The broader industry has seen several major portfolio changes. Unilever has agreed to sell its food business to McCormick for $45 billion and has also separated its ice cream operations. The company previously sold more than 20 beauty and personal care brands to Yellow Wood Partners in 2024.
Nestle has also been reducing its exposure to some businesses. Earlier in September, the Swiss food company agreed to sell its mainstream vitamins and supplements business to Yellow Wood Partners for about $1 billion. It had previously sold a stake in its water and premium beverages business to Platinum Equity.
Colgate-Palmolive, based in New York, has a market value of about $70 billion. Its shares have gained roughly 11% so far this year, while the company reported a 4.9% increase in net sales in its latest quarterly results.
However, Colgate has faced weaker conditions in its North American market, where organic sales declined 3% in the latest quarter. Chief Executive Noel Wallace said at a Barclays consumer conference this week that competition in North America was becoming stronger and that improving the business would require a long-term turnaround.
The company's broader personal care division, including mass-market and higher-end brands, generated about 17% of Colgate-Palmolive's total sales in 2025. Based on the company's overall sales, that represents roughly $3.5 billion in annual revenue.
A sale of selected brands would therefore represent only part of Colgate-Palmolive's personal care operations. The review reflects a wider effort among major consumer companies to simplify their businesses and concentrate investment on brands and markets they see as having stronger long-term potential.
