Henkel sells Right Guard male grooming brand
Henkel has completed the sale of its Right Guard male grooming brand to Thriving Brands LLC, as it continues to streamline its product portfolio and push ahead with its “Purposeful Growth,” agenda.
Henkel’s North American women’s anti-perspirant brand Dry Idea was also sold as part of the same deal, after both brands were identified as “non-core activities” within its Beauty Care portfolio in a review last year.
The transaction includes trademark rights and access to product formulations.
Henkel Chief Executive Officer Carsten Knobel said: “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.”