‘As part of The Clorox Company, GOJO will remain in Northeast Ohio, where GOJO got its start in 1946.’
AKRON, Ohio — The Clorox Company has agreed to acquire GOJO Industries, the Akron-based maker of Purell hand sanitizer, in a $2.25 billion cash deal that will bring the family-owned hygiene company into Clorox’s growing health and wellness portfolio.
In a release sent out on Thursday, Clorox announced it had signed a definitive agreement to purchase GOJO for $2.25 billion — including anticipated tax benefits valued at about $330 million — for a net purchase price of $1.92 billion. The deal adds the Purell brand — the top-selling hand sanitizer in both business-to-business and retail markets — to Clorox’s lineup of household and institutional products.
GOJO, founded in 1946 in Akron by Goldie and Jerry Lippman, generates nearly $800 million in annual sales and has posted mid-single-digit growth in recent years, the company said. More than 80% of its revenue comes through a network of business customers supported by roughly 20 million soap and sanitizer dispensers that drive recurring demand.
“GOJO’s deep commitment to innovation and delivering superior value in skin hygiene has built Purell into one of the most trusted names in homes, healthcare facilities, schools and businesses around the world,” Clorox Chair and CEO Linda Rendle said in a statement. She said the acquisition strengthens Clorox’s fastest-growing and most profitable segment, Health and Wellness, as the company pursues its long-term growth strategy.
GOJO President and CEO Carey Jaros called the agreement “a momentous day” for the company, saying Clorox’s consumer expertise and global resources will help accelerate growth, particularly in retail channels.
In a letter to employees, former GOJO Chairman and CEO Joe Kanfer and current Executive Chair Marcella Kanfer Rolnick said the family chose to sell the company to enable growth that would not be possible under its existing ownership structure.
“With The Clorox Company, GOJO can grow at the scale and speed needed to continue leading our industry,” the letter said, adding that Clorox brings investment capacity, global reach and consumer-brand expertise that align with GOJO’s mission.
The Kanfer family said Clorox leaders emphasized the value of GOJO’s business-to-business capabilities, innovation pipeline, supply chain and workforce, and committed to keeping the company rooted in Northeast Ohio.
“As part of The Clorox Company, GOJO will remain in Northeast Ohio, where GOJO got its start in 1946,” the letter said.
The sale marks the end of nearly 80 years of family ownership by three generations of the Lippman Kanfer family. Kanfer and Rolnick described the decision as bittersweet but said it was made to ensure the long-term future of GOJO and the Purell brand.
GOJO has played a prominent role in the evolution of hand hygiene products, beginning with the invention of the first waterless heavy-duty hand cleaner for rubber factory workers and later pioneering portion-control dispensers, Purell hand sanitizer, touch-free dispensers and smart hygiene monitoring systems.
“Although GOJO will no longer be our family enterprise, our connection, pride and gratitude are forever,” the letter added.
Financial terms beyond the purchase price were not disclosed, and Clorox did not announce a timeline for closing the transaction.
Thursday’s news comes nearly three years after a report from the Wall Street Journal said GOJO was looking for a buyer. The WSJ reported that GOJO hired JPMorgan Chase to conduct an auction with sources telling the newspaper “the company could be valued at around $3 billion.” WSJ also reported that the company’s bankers were focused on selling the business “to industry players rather than private-equity firms.”
link
