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August 23, 2000
By: TOM BRANNA
Editor
Procter & Gamble announced on August 23 that it is exploring a possible divestiture of its Clearasil skin care brand. “Clearasil is a profitable brand, however we must make tough choices on where to focus our resources among a range of top-tier beauty brands,” said Susan Arnold, president of P&G’s global personal beauty care business. “This is consistent with our company strategy of maximizing shareholder value by optimizing P&G’s brand portfolio.“P&G is in the process of soliciting bids for Clearasil. P&G has retained Goldman, Sachs & Co. as its exclusive financial advisor. If an acceptable offer is not received, P&G will retain the brand and assess other options. Clearasil is the No. 1 acne skin care brand in major markets such as the U.S., U.K. and Germany and is sold in over 50 countries.
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