P&G TO CLEAR PORTFOLIO, FOCUS ON TOP BRANDS
By Adnews Staff
Consumer goods company Procter & Gamble of Cincinnati, Ohio has hung a for sale sign on its Clearasil skin care brand. The move to sell the brand, which represents less than two per cent of the company's beauty care sales, is part of a plan to focus on top brands. Advertising for the brand is done by Grey Worldwide. P&G has hired Goldman, Sachs & Co. as financial advisor for the sale and is in the process of soliciting bids. However, the company has said if an acceptable offer is not received, it will retain the brand.
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