Proctor and Gamble has made a major move towards confirming rumors about the sale of its Duracell division with the announcement that The Blackstone Group has been retained to advise it on finding a buyer. The Duracell brand generates over $2 billion in annual battery sales, so this is a very big deal. The sale price may reach as high as $7 billion dollars.
While Duracell remains healthy, it apparently is not generating the sort of growth numbers that P&G expects to see. It has been clear from the point of view of distributors that P&G did not meet the same standards for dealer support that had been provided by Gillette when they owned the brand. It will be interesting to see if a new owner can improve product delivery.
P&G has owned the ProCell brand for well over a year, yet there is still no reference to the product on their own web site. Not even a link directly to the duracell.com/procell web site. A “brand” search at the P&G website doesn’t even acknowledge the Procell brand.
The Blackstone Group is an international leader in the area of mergers and acquisitions, so the public announcement that they are involved in this project means that a change is inevitable. Check back here regularly for updates.
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