P&G Brand Divestitures Will Be Bigger Than Original Targets
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Procter & Gamble Co.’s brand divestitures will come bigger and faster than originally anticipated, with the company today projecting they will total 14% of sales, or around $11.5 billion. That’s up from the original plan for 10% or $8.2 billion announced in August.
In a presentation today at the Consumer Analyst Group of New York annual conference in Boca Raton, Fla., P&G Chief Financial Officer Jon Moeller said the company hopes to have “negotiated or announced” the balance of its brand divestitures or discontinuations “as early as this summer, roughly one year from our announcement” and to have completed the of selling, merging or spinning off brands by July 2016.
To date, P&G has announced divestitures or discontinuation of 35 of the 100 brands, from big ones such as Duracell and Iams to much smaller ones, such as the Avril Lavigne fragrance license or the MDVIP concierge physician service.
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