P&G Sells Sure Deodorant to Innovative Brands

2006-09-26 | 09:03

Innovative Brands, Phoenix, AZ, has acquired Sure deodorant from Procter & Gamble. Although a purchase price wasn't disclosed, industry experts estimate the price was about $100 million.

The transaction was the second between P&G and Innovative Brands, which is a portfolio company of Najafi Cos., a private investment group. In July, Innovative Brands acquired the Pert Plus shampoo business from P&G. The move comes at a time when activity in the U.S. AP/Deo business is becoming more focused on women and teen-age boys. For a closer look at the top AP/Deo brands,

"P&G is really concentrating on deodorant brands that are gender specific," Michele Szynal, a P&G spokesperson told The Wall Street Journal. "There is a bigger opportunity to communicate directly about features and benefits. You have products designed specifically for them."

Yet, the folks at Innovative Brands say they can do more with a brand that is not so gender specific.

"We plan to invest substantial dolloars promoting it, several times what P&G spent," said Jahm Najafi, chief executive officer and founder of Najafi Cos. He said the company would design a different marketing system than one used by most large consumer product companies.