P&G buys Pur water filter systems: Procter & Gamble Co., Cincinnati, said it has offered $265 million to buy household water filtration systems marketer Recovery Engineering, which last month claimed for the first time that its Pur brand systems were No. 1 in dollar share in the U.S. market. The deal has been agreed to by the boards of both companies, and shareholder and regulatory approvals are pending. Pur, with sales of $77 million in 1998, reached a 49% share of the water filtration market in food, drug and mass merchandise outlets last month according to Information Resources Inc. figures released by the Recovery Engineering. Pur's strength lies in faucet-mount systems, where it controls an 80% share, but the company also launched a pour-through pitcher last year, directly challenging rival Clorox Co.'s Brita. PUR also launched its first network TV advertising last year, a 30-second spot from Campbell Mithun
Esty, Minneapolis. The Pur brand will become part of P&G's Global Health Care and Corporate New Ventures unit. P&G declined comment on possible agencu assignments. The deal is expected to close in October.
Copyright August 1999, Crain Communications Inc.