P&G Sells Comet to Prestige Brands

Procter & Gamble will sell the Comet global trademark and retail business in North America to Prestige Brands International, Inc. As part of a licensing arrangement with Prestige, P&G will continue to market the retail brand in central and eastern Europe and the away-from-home brand, Professional Line Comet, in North America.

Comet cleanser is Prestige Brands’ third acquisition, and expands the company’s portfolio into the $3 billion household cleaning category. Comet is one of the most widely recognized cleaning products in the U.S., and has been a top selling brand for more than 45 years. Comet has a long, established brand equity of helping consumers clean their homes that is reflected in extremely high brand awareness and proven customer loyalty.

Prestige Brands is a consumer products company that was formed in 1999 for the purpose of buying and marketing popular consumer products. Prestige’s first acquisition was Prell shampoo, which the company purchased in November 1999. Subsequently, Prestige Brands purchased Chloraseptic Throat Sprays and Lozenges in March 2000.

Prestige Brands International, Inc. is working in partnership with the investment groups DB Capital Partners, Inc., Provender Capital Group, LLC, Jefferson Capital Partners, Ltd, and Peak Capital Holdings to acquire well-known brands that have significant potential for growth in today’s marketplace. The company plans to focus its attention on building its acquired brands by identifying new ways to fulfill consumers’ needs.