Regions

P&G to sell soap brands Camay and Zest to Unilever

December 23
2:25 AM 2014

Procter & Gamble Co said it would sell its soap brands Camay and Zest to Unilever Plc for an undisclosed amount to focus on its faster-growing brands.

The deal includes the global sale of the Camay brand and the sale of the Zest brand outside of North America and the Caribbean, P&G said.

The company will also sell its Talisman facility in Mexico to Unilever. The facility has 170 employees.

P&G said in August that it would shed 80-100 slow-growing product lines to focus on about 80 brands, including Tide laundry detergents and Pampers diapers, which generate most of its revenue.

The Cincinnati-based company sold its Duracell battery business to Berkshire Hathaway Inc in November and its pet food business in Europe to Spectrum Brands Holdings Inc in September.

P&G is also said to be exploring a sale of its Wella hair care unit, Reuters reported last month, citing sources.

The deal with Unilever is expected to close in the first half of 2015, P&G said.

P&G's shares were up slightly at $92.38 in afternoon trading on the New York Stock Exchange. Up to Friday's close, the stock had risen 13 percent this year.

© 2022 VCPOST, All rights reserved. Do not reproduce without permission.
Tags
Share

Comments

Join the Conversation

Subscribe to VCpost newsletter

Sign up for our Deals of the Day newsletter.
We will not spam you!

Real Time Analytics