01.27.23
Scott’s Liquid Gold-Inc. has sold its wood and floor care lines. The sale is part of its ongoing process to explore and pursue a variety of strategic alternatives focused on maximizing shareholder value, according to the Greenwood Village, CO-based company.
The remaining brands in the Scott’s Liquid Gold stable include Alpha Skin Care, Biz Stain Fighter, Kids N Pets and Messy Pet, Denorex shampoo, Neoteric Diabetic Skin care and Zincon Shampoo. The company previously sold the Dryel brand in 2021.
The company received gross proceeds of $1.9 million for the sale of its wood and floor care brands and will also receive a royalty on sales of the products for the next two years. The proceeds of the sale were used to reduce net debt.
Scott’s said it will continue to consider a wide range of options, including one or more of the following: the sale of additional brands; a sale, merger, or other strategic transaction involving the entire company; acquisitions of other brands or companies; issuance of additional debt or equity; and continuing to operate as a public, independent company.
The remaining brands in the Scott’s Liquid Gold stable include Alpha Skin Care, Biz Stain Fighter, Kids N Pets and Messy Pet, Denorex shampoo, Neoteric Diabetic Skin care and Zincon Shampoo. The company previously sold the Dryel brand in 2021.
The company received gross proceeds of $1.9 million for the sale of its wood and floor care brands and will also receive a royalty on sales of the products for the next two years. The proceeds of the sale were used to reduce net debt.
Scott’s said it will continue to consider a wide range of options, including one or more of the following: the sale of additional brands; a sale, merger, or other strategic transaction involving the entire company; acquisitions of other brands or companies; issuance of additional debt or equity; and continuing to operate as a public, independent company.