Family-owned Gojo Industries Inc., maker of Purell hand sanitizer and other products under the Purell brand, is seeking a buyer and has hired JPMorgan Chase & Co. to run an auction, the Wall Street Journal reported Wednesday, citing people familiar with the matter. Gojo, based in Akron, Ohio, has about $1 billion of annual sales and could be valued at around $3 billion, according to the report. The process is in early stages, and bankers are focusing on selling the business to other companies rather than to private-equity firms, the newspaper said. Purell hand sanitizer became one of the scarcer and most valued brands on retail-store shelves during the early months of the coronavirus pandemic as people sought products to protect against infection.
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