British consumer goods multinational Reckitt Benckiser is planning to sell some of its personal care brands, such as Veet hair removal cream and Clearasil acne cream.
Sources say that based on estimates of annual earnings before tax, interest, depreciation, and amortization north of £120 million ($154 million), the package of brands that are up for sale is worth approximately £1 billion ($1.3 billion) in a sale.
Reckitt Benckiser is claimed to be focusing on two main businesses, health and, hygiene, having started out selling household cleaning products and then branched out to health-related products such as Durex condoms, Enfamil formula and Nurofen tablets.
Reckitt is working with advisers and has already sent out information on the assets. Unilever, Beiersdorf, and Henkel are potential buyers and Beiersdorf and Henkel, both based in Germany, are interested in parts of the package, sources said.
Reckitt Benckiser has declined to comment on the matter.