Procter & Gamble on Monday satisfied the last of the disposal requirements imposed on it by the Federal Trade Commission as a condition for approving the fmcg giant's takeover of the Gillette Company last year.
In a $420 million (€352.59m; £240.73) deal struck between Gillette and Dial Corporation, the latter has agreed to acquire the Right Guard, Soft & Dri, and Dry Idea deodorant brands, although not the production facility in Andover, Massachusetts.
Gillette is edgy about the sale's likely impact on the plant's future. Says Gillette spokesman Eric Kraus: "This was a move that had to happen because of the FTC ruling. It's premature to discuss what impact, if any, there will be on the employees in Andover. It's very early in the process."
While Andover employees fret over their future, Dial's German parent Henkel is ebullient. "These leading brands are a perfect fit to our core business, body care, and will further increase growth and profitability of this business," enthuses Hans Van Bylen, evp of Henkel Cosmetics and Toiletries
The acquisition propels Henkel to number three position in the US deodorant league - trailing P&G-Gillette's 43% and Unilever's 18%.
Data sourced from Boston Globe.com; additional content by WARC staff
