P&G Sells Chloraseptic Brand
Sep. 12, 2000
CINCINNATI (AP) _ Procter & Gamble Co., intent on divesting its less profitable businesses, has sold its Chloraseptic throat spray and lozenges brand for an undisclosed amount.
The deal, announced Monday, is with Florida-based Prestige Brands International Inc., a fledgling consumer good company that purchased P&G's Prell shampoo line in November.
Prestige Brands said it plans to build its business on well-known acquired brands with growth potential.
In recent months, Cincinnati-based P&G has announced plans to sell its Clearasil line of blemish treatments and Biz bleach brand. The company also has completed sales of Oxydol laundry detergent and Coast deodorant soap.
Chloraseptic, developed by a dentist in 1957, is a category leader with annual sales of about $21 million for its throat spray and about $10 million for its lozenges.
But Chloraseptic's sales represented less than 1 percent of P&G's $3.9 billion in health-care product sales, P&G said.
The consumer products giant's best-known brands include Tide detergent, Pampers diapers, Crest toothpaste and Ivory soap.