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