Colgate-Palmolive ($CL) is exploring a sale of mass-market personal care brands Softsoap, Irish Spring and Speed Stick that could fetch more than $1 billion, Reuters reported on September 11, 2026, citing people familiar with the matter. Colgate has not announced a formal review or a deal; the company and its reported adviser, Goldman Sachs, declined to comment. Since the report, $CL has gained 7.0% through the October 23, 2026 close, and third-quarter results are due October 30.
This is a pruning, not a breakup. The brands in play sit inside a personal care unit that made up 17% of Colgate's 2025 net sales, and the reported plan leaves untouched the oral care business that generates almost half its revenue. Here is what was reported, what Colgate's own filings show, and the math on the stock.
What was reported
According to the Reuters report by Abigail Summerville and Amy-Jo Crowley:
- Brands: Softsoap, Irish Spring and Speed Stick, described as certain mass-market personal care brands.
- Size: Colgate plans to divest only a few brands in the unit, which together could fetch over $1 billion.
- Adviser: Goldman Sachs.
- Unit scope: personal care covers deodorants, bar and liquid soaps, shower gels and skin care. The whole unit, mass and prestige, was 17% of 2025 net sales, or about $3.5 billion.
- Company comment: none. Colgate and Goldman Sachs declined to comment.
Reuters also pointed to comments CEO Noel Wallace made at the Barclays consumer conference, where he cited "intensifying competition in North America" and said fixing the business would require a "long-term turnaround." Reuters put Colgate's market value at roughly $70 billion and noted the stock was up about 11% year to date at the time.
What Colgate's filings show
The pressure is concentrated in North America. Colgate's 10-Q for the quarter ended June 30, 2026 shows:
- Net sales of $5,361 million, up from $5,110 million a year earlier.
- North America net sales of $891 million, down from $919 million. Reuters reported North American organic sales fell 3%.
- Diluted EPS of $0.86, down from $0.91.
- Product mix: oral care 44% of worldwide sales, pet nutrition 22%, personal care 18% and home care 16%.
- Strategic Growth and Productivity Program charges of $129 million pre-tax in the quarter and $305 million for the first half; the board approved an expansion of the program on April 30, 2026.
Reuters described the brands in play as mass-market, and Wallace has flagged North America as the problem region. Selling them would make Colgate more of an oral care and pet food company, segments that already made up 66% of second-quarter sales, and less exposed to the soap and deodorant aisle.
The math
| Measure | Figure | Arithmetic |
|---|---|---|
| Reported sale value vs. market cap | about 1.4% | $1B / about $70B |
| Reported sale value vs. personal care sales | about 29% | $1B / about $3.5B |
| Q2 personal care sales (implied) | about $965M | 18% x $5,361M |
| Q2 net sales growth | +4.9% | $5,361M / $5,110M |
| Q2 North America net sales | -3.0% | $891M / $919M |
| $CL reaction, Sept. 11 | -1.25% | $87.90 to $86.80 |
| $CL, Sept. 10 to Oct. 23, 2026 | +7.0% | $87.90 to $94.04 |
| $XLP (consumer staples ETF), same period | +6.2% | $83.09 to $88.26 |
| $CL, 2026 to Oct. 23 | +19.0% | $79.02 to $94.04 |
The arithmetic on the stock: $CL fell $1.10, or 1.25%, on the day of the report, then gained $6.14, or 7.0%, from the September 10 close to October 23. The Consumer Staples Select Sector SPDR ($XLP) gained $5.17, or 6.2%, over the same stretch, so the report has not opened a meaningful gap against the sector. For 2026, $CL is up $15.02, or 19.0%.
On size, a $1 billion-plus sale is small against a roughly $70 billion company, about 1.4%. The bigger question is what the proceeds and a smaller North American soap business do to growth and margins. Wallace's own "long-term turnaround" phrasing sets the bar.
What to watch
- October 30, 2026: Colgate hosts its third-quarter call at 8:30 a.m. ET with Wallace, CFO Stan Sutula and investor relations head Claire Ross. Investors watch for any comment on portfolio moves and North American organic sales.
- A signed deal: buyer, price against the reported $1 billion-plus, and whether the sale covers all three brands.
- Restructuring: charges under the expanded productivity program, which ran $305 million pre-tax in the first half.
- Peers: staples companies have been reshaping portfolios across the sector, from Kimberly-Clark's Kenvue deal to McCormick's food deal with Unilever.
Related coverage: Kimberly-Clark's $40 billion Kenvue deal, the McCormick-Unilever review and Procter & Gamble's latest earnings beat. More is on the Trading Tips For You homepage.
Bull/Bear Verdict
Bull Case: Selling North American soap and deodorant brands would tilt Colgate further toward oral care and pet nutrition, already 66% of quarterly sales, and $CL is up 19.0% in 2026 through October 23.
Bear Case: No deal is signed, North America net sales fell 3.0% in the second quarter, and a $1 billion-plus sale is only about 1.4% of Colgate's value, so it does not fix the core growth problem on its own.
FAQ
Is Colgate-Palmolive selling Irish Spring?
Reuters reported on September 11, 2026 that Colgate is exploring a sale of Softsoap, Irish Spring and Speed Stick. Colgate declined to comment and has not announced a deal.
How much could the brands sell for?
The brands together could fetch more than $1 billion, according to the people Reuters cited.
How big is Colgate's personal care business?
The full personal care unit was 17% of 2025 net sales, about $3.5 billion, and 18% of sales in the second quarter of 2026.
When does Colgate report next?
Colgate holds its third-quarter 2026 earnings call on Friday, October 30, 2026, at 8:30 a.m. ET.
Updated October 26, 2026: expanded with the brands, value and adviser from the Reuters report, second-quarter figures from Colgate's 10-Q, and price data through the October 23, 2026 close. Correction: Colgate has not announced a strategic review; the sale exploration was reported by Reuters citing unnamed sources, and the report did include brand names and a value of more than $1 billion.