Clorox CEO Targets Health-Care Brands in Acquisition Strategy
22.05.12
(Updates with share price in fifth paragraph.)
Feb. 24 (Bloomberg) -- Clorox Co., targeted last year by Carl Icahn, would consider acquisitions of health-care products and services to fuel what could become a $300 million business, according to its chief executive officer.
“That’s the No. 1 priority on more M&A,” CEO and Chairman Don Knauss said yesterday in an interview at an analyst conference in Boca Raton, Florida. Clorox also would consider international acquisitions and personal-care brands to supplement its Burt’s Bees skin-care line. The Oakland, California-based company has made health-care purchases in the past two years.
“We’ll continue to look at bolt-on acquisitions” in Latin America, the Middle East and perhaps Southeast Asia, Knauss said. He said Clorox’s health-care business was “basically nonexistent” three years ago and now generates more than $100 million in annual sales.
Source: BusinessWeek