P&G May Sell Wash & Go Brand
CINCINNATI (AP) _ Procter & Gamble said Wednesday that it is exploring the sale of its Wash & Go hair care brand, which is sold only in Europe.
``Although Wash & Go is a profitable and highly recognized brand, it is no longer a primary focus area for us within our broader hair care business,″ said Martin Nuechtern, president of Procter & Gamble’s global hair care business.
Nuechtern said the company believes it can improve shareholder return by focusing resources on brands that offer the greatest potential for global business growth. Those brands include Pantene Pro-V and Head & Shoulders, he said.
Procter & Gamble is in the process of soliciting bids for Wash & Go. If an acceptable offer is not received, the company said it will retain the brand.
Wash & Go represented less than 1 percent of Procter & Gamble’s total global beauty care sales in the last fiscal year. The company had worldwide sales of $7.39 billion in the fiscal year that ended June 30.
P&G’s beauty care brands include Pantene Pro-V, Head & Shoulders, Olay, Safeguard, Secret, and Max Factor.
The company sells about 300 product brands in at least 140 countries. Some of those other products include Pampers, Tide, Crest, Bounty, Charmin and Puffs.