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July 2, 2001
By: TOM BRANNA
Editor
Procter & Gamble announced today it is exploring a possible divestiture of its Comet retail brand in North America.“Although Comet is a profitable and recognized brand, it is no longer a strategic fit for us,” said P&G vice president and general manager home care Colleen Jay. “We are putting more focus against building big brands that offer the greatest potential for global growth.”P&G has retained Goldman, Sachs & Co. and is in the process of soliciting bids for Comet. If an acceptable offer is not received, P&G will retain the brand. P&G plans to retain Professional Line Comet in North America and the retail brand in Central and Eastern Europe.
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