Procter & Gamble Sells Bleach Products Business
Procter & Gamble Sells Bleach Products Business
Procter & Gamble Co. started the new year with a divestiture.
P&G (NYSE: PG) sold its bleach products business in Western Europe to Fater, an Italian joint venture that P&G has operated with the Angelini Group since the early 1990s.
Terms of the Dec. 31 transaction were not revealed. P&G transferred hard-surface cleaning products sold under the Ace and Neoblanc brand names. The deal did not include Ace laundry products.
“They’re strong brands and they’re growing market share, but the fabric-care bleach business has a limited global footprint,” said P&G spokesman Paul Fox, who added that Fater’s “proven abilities in innovation” should enable future growth.
P&G announced the sale to its external business partners in October.
Source: Business Courier
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