Thursday, May 06, 1999
P&G's Prell brand looking for a buyer
Shampoo isn't among top sellers
BY RANDY TUCKER
The Cincinnati Enquirer
Procter & Gamble Co. said Wednesday that it has begun seeking buyers for its Prell shampoo brand.
The move is in line with the company's continuing effort to shed small businesses and focus on more global brands.
Cincinnati-based P&G, the biggest U.S. shampoo company with control of more than a quarter of the $1.7 billion market, said it plans to sell Prell to focus on better-selling hair-care brands, such as Pantene, Head & Shoulders and Pert Plus.
“Although Prell is a profitable and highly recognizable brand, it is no longer a strategic fit for us,” Rob Matteucci, vice president and general manager of P&G's hair-care business, said.
Prell accounted for less than 1 percent of P&G's total beauty-care sales of more than $7.2 billion last year and was not among the Top 10 sellers.
P&G's Pantene shampoo is the top seller in the United States with $236 million in sales for the yearlong period that ended March 28 and has a 14.1 percent dollar share of the market, according to market tracker Information Resources Inc.
Pert Plus ranked No. 4 with sales of $97.2 million, and Head & Shoulders came in fifth with sales of $92.8 million
for the same period, Information Resources said.
P&G said it will hold onto the Prell brand, which it launched in 1947, if no attractive offers surface in the next several months.
If P&G sells Prell, the company would reassign the brand's employees to other jobs.
The move to sell Prell follows earlier announcements that P&G is seeking buyers for its Hawaiian Punch fruit drink and Coast bar soap.
P&G had worldwide sales of $37.2 billion during the fiscal year ended June 30, 1998. Its beauty-care brands also include Oil of Olay, Safeguard, Noxzema, Secret, Old Spice, Cover Girl and Max Factor.
Cincinnati Bell gets ready for strike
Bell gets OK to operate in 55 counties
Tristate dollar goes a long way
Report: Region basks in glow of robust economy
P&G's Prell brand looking for a buyer
TRISTATE BUSINESS SUMMARY
INDUSTRY NOTES: REAL ESTATE
COMMERCIAL REAL ESTATE TRANSFERS
PEOPLE ON THE MOVE
TRISTATE MARKET SPOTLIGHT
