12.23.14
As P&G continues to sell off some of its brands in an effort to become more profitable, the world’s largest consumer products company has, for the first time, transferred brands to a competitor. P&G’s Camay and Zest soap brands will now belong to its global rival Unilever under a deal announced earlier this week.
The sale is expected to close in the first half of 2015. Terms of the deal were not announced.
The transaction involves the global sale of the Camay brand and portions of the Zest business outside of North America and the Caribbean. P&G will transfer its Talisman plant in Mexico along with its 170 employees to Unilever.
Camay is reportedly worth more than $120 million, while figures for Zest come in at about $170 million.
The sale is expected to close in the first half of 2015. Terms of the deal were not announced.
The transaction involves the global sale of the Camay brand and portions of the Zest business outside of North America and the Caribbean. P&G will transfer its Talisman plant in Mexico along with its 170 employees to Unilever.
Camay is reportedly worth more than $120 million, while figures for Zest come in at about $170 million.