Colgate-Palmolive is exploring selling Softsoap, Irish Spring, and Speed Stick

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The consumer goods company is working with Goldman Sachs on the potential divestiture, which could fetch more than $1 billion

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Colgate $CL-Palmolive is exploring a sale of several mass-market personal care brands, including Softsoap, Irish Spring, and Speed Stick, according to Reuters, citing unnamed sources.

The New York-based company has engaged Goldman Sachs $GS to advise on the process, according to Reuters. The brands under review could together fetch more than $1 billion, and Colgate currently plans to divest only a few brands from its personal care unit rather than the unit as a whole. Both Colgate and Goldman Sachs declined to comment.

Colgate's personal care unit encompasses product categories such as deodorants, soaps in bar and liquid form, shower gels, and skin care. That unit, spanning both mass and prestige brands, generated roughly $3.5 billion in annual net sales in 2025, representing 17% of the company's total, according to Reuters. Oral care is Colgate's biggest business segment, anchored by the Colgate toothpaste brand, and generated nearly half of the company's total net sales.

The potential sale comes as Colgate navigates pressure in its North American business. North America segment volumes fell 3.2% in the first quarter as price-sensitive shoppers moved to cheaper alternatives, though international demand helped offset the weakness. Colgate CEO Noel Wallace told the Barclays consumer conference this week that intensifying competition in North America meant the business would require a "long-term turnaround," according to Reuters.

Colgate carries a market capitalization of about $70 billion, and its shares have gained roughly 11% so far this year. The company's latest quarterly results showed overall net sales climbing 4.9%, while organic sales across its North American business slipped 3%.

The potential divestiture fits a broader pattern of consumer goods companies shedding non-core brands to sharpen focus amid tariff pressures, rising input costs, and strained household budgets. Unilever struck a deal this year to offload its food business to McCormick in a transaction valued at $45 billion. Nestle, earlier this month, struck a deal to offload its vitamins business to Yellow Wood Partners for approximately $1 billion, after previously divesting a stake in its waters and premium beverages unit to Platinum Equity.

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