US hair and personal care products manufacturer Vogue International is looking to sell its Organix Hair Care unit, hoping to collect at least USD800m (EUR590m) in the process, Reuters reported.
Three people with knowledge of the matter told the news agency that Vogue International had brought in Goldman Sachs Group Inc (NYSE:GS) as adviser. They added that interested parties had been asked to submit their first-round offer earlier in January.
The sources speculated that Organix Hair Care was likely to attract bids from French cosmetics giant L’Oreal SA (EPA:OR), as well as Unilever Plc (LON:ULVR) and Procter & Gamble Co (NYSE:PG) – the respective owners of the Sunsilk and Pantene hair care brands.
Organix makes shampoos, body washes and body lotions. According to the sources, the brand delivers annual EBITDA of about USD80m.
Goldman would not comment for Reuters, while the rest of the companies mentioned could not be immediately reached.