American Brands Inc. has agreed to sell...

American Brands Inc. has agreed to sell its Andrew Jergens Co. unit to Kao Corp. of America, a subsidiary of Kao Corp. of Japan, for an undisclosed sum. American Brands, a diversified tobacco, spirits and financial services company based in Old Greenwich, Conn., said the transaction must be approved by U.S. and Japanese regulators. Jergens produces and markets hand and body lotions, personal soaps and other personal care products. American Brands had announced plans to divest the company in December.