P&G to acquire Ambi Pur
Procter & Gamble is all set to acquire the control of Ambi Pur air care
July 13, 2010 | comments ( 0 ) |
Procter & Gamble is all set to acquire the control of Ambi Pur air care brand, in India,from the Godrej Group after the completion of three-way transaction including Godrejand Sara Lee. The deal was completed at $468 million.
According to the reports Godrej Group had the rights to market the product till 2012, butit had given the rights to Sara Lee which has brought P&G into the picture.
Looking at the growth perspective and the product’s brand name, the P&G is quite eagerto take the brand ahead. Godrej Group would continue to distribute the brand in thecountry till September 2010, by which time the transfer is expected to be completed.A spokesperson for P&G said that the Indian leg of the deal was still under process.
Godrej Consumer Products, or GCPL, the maker of Cinthol soaps, had recently agreedto buy out Sara Lee’s stake in the joint venture, Godrej Sara Lee, for $234 million. The15-year-old joint venture between the Godrej Group and Sara Lee of the US came to anend as the American company is selling its personal care businesses to focus on food andbeverages.
Godrej Sara Lee, now known as Godrej Household Products, has the rights to marketSara Lee brands such as Ambi Pur, Brylcreem and Kiwi.
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