Did Colgate strike a new deal? Is Colgate exploring a sale of its personal brands? Is Goldman Sachs involved in the process?

• Colgate-Palmolive is exploring the sale of several personal care brands, including Softsoap, Irish Spring and Speed Stick, Reuters reported.
• The company is working with Goldman Sachs on a potential divestiture that could fetch more than $1 billion.
• The potential sales come as Colgate reshapes its portfolio and expands a productivity program expected to generate $200 million to $300 million in annualized pre-tax savings.

Colgate-Palmolive (CL) is reportedly exploring the sale of several mass-market personal care brands, including Softsoap, Irish Spring and Speed Stick, in a potential deal that could fetch more than $1 billion.

According to a Reuters report citing people familiar with the matter, the company is working with Goldman Sachs (GS) on the potential divestiture.

At the time of writing, CL shares traded marginally in the red.

Colgate-Palmolive's Personal Care Business

Colgate's personal care portfolio includes deodorants, bar and liquid soaps, shower gels and skin care products. The company’s 2025 annual report lists Softsoap, Irish Spring, Lady Speed Stick and Speed Stick, among others, within its personal care portfolio.

Personal Care accounted for 17% of Colgate-Palmolive's worldwide net sales in 2025, down from 18% in 2024 and 19% in 2023. Colgate reported total 2025 net sales of $20.38 billion, putting the personal care category at roughly $3.5 billion in annual sales.

The company does not separately disclose revenue for individual brands such as Softsoap, Irish Spring or Speed Stick.

Colgate's largest product category is oral care, which represented 44% of 2025 net sales, while home care accounted for 16% and pet nutrition for 23%.

Colgate Looks To Reshape Its Brand Portfolio

The potential divestiture comes as Colgate is already carrying out a broader productivity and restructuring program.

In April, Colgate-Palmolive’s board expanded its Strategic Growth and Productivity Program, increasing the estimated cumulative pre-tax charges to $350 million to $550 million, from the previous $200 million to $300 million range. 

Colgate expects substantially all of the charges to be incurred by the end of 2028 and expects the expanded program to generate annual pre-tax savings of $200 million to $300 million once all initiatives are approved and implemented.

The program includes efforts to optimize the global supply chain and align the company's organizational structure with its strategy, with investments in innovation, data, analytics, artificial intelligence, and omnichannel demand generation.

The potential brand sales come as Colgate works to improve its North American business. In its second-quarter 2026 results, Colgate reported net sales growth of 4.9% and organic sales growth of 2.4%, while North American net sales and organic sales each declined 3% year over year, according to the company’s earnings release.

Colgate CEO Noel Wallace said at the Barclays consumer conference this week that competition in North America was intensifying and that getting the business where it needs to be would require a “long-term turnaround,” Reuters reported.

Broader Consumer-Goods Divestiture Trend

Colgate's potential move comes amid a broader reshaping of large consumer-goods companies.

Unilever has been restructuring its portfolio, including the planned combination of its food business with McCormick in March, while Nestle recently agreed to sell its mainstream vitamins business to Yellow Wood Partners for around $1 billion.

Unilever has also previously sold more than 20 beauty and personal care brands to Yellow Wood Partners, while its Magnum ice cream business was separated from the company.

Colgate's potential transaction would involve only some brands within its personal care business, rather than a sale of the entire division, according to the Reuters report.

On Stocktwits, retail sentiment for CL was ‘bullish’ early Friday. CL shares have gained over 9% year-to-date.

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