Prell
This article was originally published in The Rose Sheet
Executive Summary
Procter & Gamble exploring "possible divestiture" of the hair care brand, the company announced May 5. P&G is in the process of seeking bids, but if it does not receive an "acceptable offer," it will retain the brand. "Although Prell is a profitable and highly recognized brand, it is no longer a strategic fit for us," P&G said. In FY 1998 (ended June 30), Prell represented less than 1% of the company's total global beauty care sales. The company plans to focus its resources on its more lucrative brands, such as Pantene Pro-V and Head & Shoulders. If Prell is sold, employees will be transferred to other areas within the company. Investment banking firm Harris Williams (Richmond, Va.) will handle the sale