Consumer-products giant Clorox Co. is moving toward the sale of its two automotive brands, STP and Armor All, and will likely launch a process to auction the well-known names, according to people familiar with the matter. The Oakland, Calif., company has been analyzing its large product portfolio and could hire an investment bank within the next couple of months to handle the sale, these people said. STP and Armor All have combined annual sales of about $300 million. STP, a maker of oil treatments, brake fluid and fuel-system cleaners, is seen as more valuable than Armor All, which makes automotive polishes, auto-glass cleaners and upholstery cleaners. Clorox has one of the widest-ranging product portfolios in the household-products sector: In addition to its namesake bleach, the company’s brands include Kingsford charcoal, Hidden Valley dressing and Brita water filters. Nevertheless, Clorox has long regarded auto-care brands Armor All and STP, to be outside the company’s core, preferring to focus on products that promote wellness, sustainability and affordability.(Wall Street Journal – subscription required), no word on how this might impact the company’s NASCAR involvment. Clorox is a sponsor of JTG Daugherty Racing and #47-Marcos Ambrose.(4-11-2010)
