Procter & Gamble Co is working with advisors including Goldman Sachs Group as the world's largest household products maker reviews up to 100 underperforming brands for potential divestiture, people familiar with the matter said. While P&G has yet to determine which brands it will seek to shed, Duracell batteries and Braun shavers are the two largest assets likely to be divested, the people said, asking not to be named because the matter is not public.The company, which also makes Gillette razors and Tide detergent, said this month it would consider selling more than half its brands whose sales have been declining for the past three years, a drastic attempt to revive growth and save costs.These brands up for review are estimated to have roughly $900 million in earnings before interest, tax, depreciation and amortization (EBITDA) combined, the people said.Duracell, the world's No.1 battery business, alone accounts for the majority of the value with estimated EBITDA of around $500 million, according to one person. Braun is the next largest brand likely to be shed, with less than $100 million in EBITDA, that person added.
The Procter & Gamble Company (P&G) is focused on providing consumer packaged goods. Shares of PG traded higher by 0.85% or $0.695/share to $82.48. In the past year, the shares have traded as low as $73.61 and as high as $85.82. On average, 7563100 shares of PG exchange hands on a given day and today's volume is recorded at 2095619.
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