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 Godrej
and Sara Lee. The deal was completed at $468 million.
According to the reports Godrej Group had the rights to market the product till 2012, but
it 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 eager
to take the brand ahead. Godrej Group would continue to distribute the brand in the
country 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 agreed
to buy out Sara Lee’s stake in the joint venture, Godrej Sara Lee, for $234 million. The
15-year-old joint venture between the Godrej Group and Sara Lee of the US came to an
end as the American company is selling its personal care businesses to focus on food and
Godrej Sara Lee, now known as Godrej Household Products, has the rights to market
Sara Lee brands such as Ambi Pur, Brylcreem and Kiwi.