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P&G Said to Seek Sale of Wella as Part of Divestment Effort

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P&G Said to Seek Sale of Wella as Part of Divestment Effort

Procter & Gamble Co., the world’s largest consumer-products company, is exploring a sale of its Wella hair-care business, said people with knowledge of the matter.

 

Goldman Sachs Group Inc. is working with P&G on the potential deal, one of the people said, asking not to be named as the details aren’t public yet. The unit could be valued at about €5 billion, another person said.

P&G announced a plan in August to divest as many as 100 of its slower-selling brands that account for about 10 per cent of its revenue. The company said it would sell the Duracell battery brand to Warren Buffett’s Berkshire Hathaway Inc. for $4.7 billion in stock last month.

P&G is also considering selling a part of the Wella business, one of the people said. Paul Fox, a spokesman for the company, declined to comment on the process. Reuters reported 28 Nov. that P&G was working with Goldman on the sale.

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Other P&G divisions that could be candidates for sale include Braun, the maker of electric shavers, trimmers and toothbrushes, and the entire salon business, which also includes Vidal Sassoon and Clairol professional products, Bloomberg News reported last month.

Bloomberg News, edited by ESM

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