P&G Will Divest Duracell in Biggest Piece of Brand Culling
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Including pet care and Duracell businesses, P&G would be around halfway through its divestiture plan on a sales basis, which Mr. Lafley said would amount to around 10% or $8 billion of company sales.
Duracell is the No. 1 brand in the battery business in the U.S. and globally, Mr. Moeller said. And it had a major sales gain last year in the U.S. on the strength of pushing rival Energizer out of a category exclusive at Sam’s Club. But the brand hasn’t been able to hold all of those gains, with its share down 0.7 points in the four weeks ended Sept. 27, according to Nielsen data from Deutsche Bank. Duracell’s sales decline pulled P&G’s entire fabric and home-care business down to flat sales last quarter
The disposable battery business has been in long-term decline as consumers turn to smartphones and other devices that use different types of batteries. Energizer Holdings earlier this year announced a split of its battery business from its more lucrative personal-care business.
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