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Clearasil sale

This article was originally published in The Rose Sheet

Executive Summary

Procter & Gamble solicits bids for anti-acne brand, retaining Goldman, Sachs to oversee a deal, the company announces Aug. 23. While Clearasil is profitable, the company says it is making "tough choices" on dedicating resources within the beauty care sector. Clearasil represents less than 2% of P&G's $7.39 bil. beauty care sales. The decision is part of P&G's brand review to refocus marketing spend on the firm's top 10 brands; Clearasil had been rumored to be on the selling block (1"The Rose Sheet" Aug. 7, p. 9). If P&G does not receive an "acceptable offer," it will retain the brand. Procter already has divested Prell shampoo and Coast soap
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