P&G Sells Biz Bleach

Procter & Gamble Co. is selling its Biz bleach brand to Redox Brands, Inc., founded by two former P&G executives. Terms were not disclosed for the deal announced Thursday. Redox bought P&G’s Oxydol laundry brand in June. P&G has been selling product brands which do not fit into its long-term plans for increasing sales and profits. “We are convinced we can build a successful company with brands that no longer fit the global strategies of the large consumer products companies, but for which American consumers have a longstanding affinity and relationship,” said Todd Wichmann, a Redox co-founder who is the company’s president.

Redox management hopes to boost sales of Biz and Oxydol by combining resources used to sell the two. Oxydol can benefit from the product distribution channels established for the Biz brand, Mr. Wichmann said. Oxydol and Biz use similar cleaning technologies and can be made at the same production plants, he added. P&G introduced the Biz brand in 1967. Biz has annual sales of $38 million and Oxydol $6 million, according to Information Resources, Inc.