Procter & Gamble Co., deciding its Duncan Hines baking business doesn't have enough global reach, has put it on the block for a selling price of more than $250 million.
The move follows the marketer's announcement in mid-August that it hopes to double sales to $70 billion by the year 2005, a big push that relies heavily on international growth. P&G has said it's major focus will be in laundry, haircare, diapers and feminine hygiene.
Duncan Hines, a brand that has seen sales declines in nearly all the U.S. categories in which it competes, presumably isn't limber enough to make the global leap.
Copyright August 1997, Crain Communications Inc.