P&G confirms Clearasil up for sale

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Procter & Gamble Co., Cincinnati, confirmed previous reports it is seeking buyers for its Clearasil skincare brand. The move is part of its plans to concentrate on its top brands. P&G said it hired Goldman, Sachs & Co. to seek bids for the brand, which it said represents less than 2% of its beauty-care sales. The P&G announcement added that P&G will keep the brand if a buyer is not found. Last year, the company sold Prell shampoo and Coast soap in similar deals. Unlike other brands sold by P&G in recent years, Clearasil is a global brand that P&G had previously identified as a priority. Grey Advertising, New York, handles Clearasil, which was supported with $11 million in U.S. media last year, according to Competitive Media Reporting.

Copyright August 2000, Crain Communications Inc.

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