Kenvue Inc., the consumer-health business that was part of Johnson & Johnson, is exploring a sale of some of its skin-care and beauty brands, Reuters reported Thursday, citing people familiar with the matter.
The company may sell brands including Clean & Clear, Maui Moisture and Neostrata, according to Reuters, while holding onto bigger brands such as Neutrogena and Aveeno.
Kenvue has faced shareholder pressure after activist investor Starboard Value LP took a stake last year, saying the company trades at a discount to peers such as L'Oreal SA, Procter & Gamble Co. and Haleon Plc despite having best-in-class brands across skincare, home care and over-the-counter drugs such as Tylenol. Hedge fund investor Toms Capital also took a stake in Kenvue, Bloomberg News has reported.
Kenvue's shares are flat from when it started trading in 2023 after being spun off from J&J, compared to a 48% gain for the S&P 500 Index over the same period.
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