Deals
Clorox to Sell Auto-Care Businesses for $780 Million
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Clorox Co., the maker of household-cleaning products, agreed to sell its STP and Armor All auto-care brands to private-equity firm Avista Capital Partners for about $780 million in cash.
The deal for the businesses, which had global sales of about $300 million in the year ended June 30, probably will close by the end of the year, Clorox said today in a statement. Clorox plans to use the proceeds to buy back stock.