Cleaning product manufacturer, Clorox Co, is looking to sell its vitamins, minerals, and supplements (VMS) business, which has been incurring significant losses despite efforts to scale it. According to unnamed sources, Clorox has been working with investment bank Goldman Sachs for a few months to find a suitable buyer but has been unsuccessful in attracting an offer. The company ventured into the VMS market in 2016 with the purchase of RenewLife and expanded in 2018 with the acquisition of Nutranext for $700m. However, due to a shift away from non-core brands and distribution loss with a few retailers, the company reported a decrease in VMS sales in its Q2 2023 results.
Despite Clorox’s attempts to expand its VMS offering, the business has incurred significant losses, leading the company to seek a buyer. Clorox has reportedly been working with Goldman Sachs to find a suitable buyer for its VMS business but has so far failed to attract an offer. The company’s Q2 2023 results revealed that VMS sales decreased due to a shift away from non-core brands and distribution loss with a few retailers.
Despite efforts to scale the business, the VMS segment continued to incur losses, prompting Clorox to consider divesting the business. With the help of Goldman Sachs, the company has been seeking a buyer for its VMS business, but as yet, no suitable offer has been made.
