P&G to sell Gillette Right Guard brand, says report
brand up for sale, according to a report published on Friday in The
Daily Deal.
The sale is a means for P&G to get US antitrust approval for its $57bn deal to buy Gillette, said the report. The auction for the business, which tipped to start in October, could bring in $225m to $300m, 1.5 to 2 times its annual revenue of $150m, according to the Deal's source. P&G declined to comment at this time, saying that a statement will be issued only after the Federal Trade Commission (FTC) reaches its final decision. According to the report, likely bids for the men's deodorant brand may come from companies such as Unilever, Colgate-Palmolive, Church & Dwight, L'Oreal and Beiersdorf. The news comes just a week after Cincinnati-based P&G announced it would sell its SpinBrush battery-powered toothbrush business to Church & Dwight in a move to meet conditions of the deal as stipulated by the European Commission. In May both P&G and Gillette reported strong quarterly financial results, putting both companies in a good position for their proposed merger, which is expected to be finalized this fall. External links to companies or organisations mentioned in thisstory: Procter & Gamble Gillette
