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CINCINNATI — Procter & Gamble Co. plans to sell its Camay and Zest soap brands to Unilever.
P&G said Monday that, under the agreement, it’s selling the two soap brands and transferring a manufacturing facility in Mexico to Unilever. Financial terms of the deal weren’t disclosed.
The deal involves the global sale of the Camay brand, the sale of the Zest brand outside of North America and the Caribbean, and the sale of the Talisman manufacturing facility in Mexico. The plant employs about 170 people, who will transfer to Unilever at the completion of the deal.
P&G noted that the sale of both brands is part of its strategy to focus on its core brands in order to create a nimbler, more profitable company that is simpler to operate.
The sale to Unilever is expected to close during the first half of 2015, pending regulatory approvals.
