International. The Clorox Company recently announced the sale of certain wholly-owned subsidiaries (collectively, "Clorox Argentina"), with operations in Argentina, Uruguay and Paraguay, to Apex Capital, a private equity fund associated with Grupo Mariposa, a 139-year-old food and beverage company with operations in 16 countries, and an investment group led by Diego Barral, former senior vice president and general manager of Clorox International. Financial terms were not disclosed.

The transaction included Clorox Argentina's two production plants, as well as rights to certain Clorox brands in Argentina, Uruguay and Paraguay and shared intellectual property among those brands. The transaction does not include Clorox's corporate and research and development centers in Latin America, which will remain in Argentina to support Clorox's ongoing operations in other Latin American markets and provide transition services to Clorox Argentina under its new ownership.

Clorox Argentina employees, including all production personnel, will continue to be employees of Clorox Argentina (which will be renamed and operated under the name "Grupo Ayudin"), except for employees dedicated to R+D and corporate centers, who will remain with Clorox under a new corporate contract structure in Argentina.

"This transaction supports IGNITE's strategy and commitment to evolve our portfolio to increase our focus on the core business to drive more consistent and profitable growth," said President and CEO Linda Rendle. "I would like to thank our teammates in Argentina for effectively managing the business in this dynamic operating environment. The new owners share our values and bring proven local operational experience and we believe their focus on maximizing the potential of the business will position it to deliver continued growth that benefits consumers and employees."

Clorox Argentina represents approximately 2% of the company's fiscal 2024 net sales outlook provided in the most recent February 2024 earnings release. As a result of this transaction, the Company will incur a one-time after-tax charge of approximately $233 million in the third quarter of fiscal 2024 (or approximately a $1.87 reduction in earnings per share.