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Gillette

This article was originally published in The Rose Sheet

Executive Summary

Decision on future of stationary products business to be determined "early this year," the company announces Feb. 14. Gillette has retained Merrill Lynch to help in the consideration of strategic alternatives for the under-performing business. An internal review of the stationary unit and part of the Braun shaving business commenced in October following a series of quarterly sales declines. Gillette's stationary business includes Paper Mate and Parker pens. Gillette purchased Parker for $450 mil. in May 1993

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Gillette

J.P. Morgan hired to explore strategic alternatives for Braun hair care, personal diagnostics and household products, including the potential sale of the businesses. Braun's hair removal and oral care lines are not included in the review; the products under consideration make up 35% of the business. Braun sales fell 9% to $1.58 bil. in 1999; the business has been a drain on Gillette's overall sales in recent quarters. The company recently hired Merrill Lynch to sell its stationery business, which also has been targeted as a divestiture candidate (1"The Rose Sheet" Feb. 21, In Brief)

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