P&G to Sell a Soap Brand to Kimberly-Clark de Mexico

  By Josh Beckerman 
 

Procter & Gamble Co., which has been selling brands to focus on its core products, said Monday that it would sell Escudo, an antibacterial soap brand in Latin America, to Kimberly-Clark de Mexico S.A.B. de C.V.

Financial terms weren't disclosed. The sale is expected to close during the first half of the year.

P&G, the maker of household products such as Tide detergent, Bounty paper towels and Gillette razors, has been making deep cost cuts across its operations to help boost growth and become a leaner organization. P&G is selling its beauty brands for $13 billion to Coty Inc.

P&G reported in January that sales trends turned positive in its latest quarter as improved U.S. results and higher prices offset volume declines in most of the consumer-goods company's businesses.

Write to Josh Beckerman at [e-mail]

(END) Dow Jones Newswires

February 22, 2016 17:59 ET (22:59 GMT)

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