CINCINNATI — Procter & Gamble Co. (P&G) has completed its acquisition of the Ambi Pur brand from Sara Lee Corp. for 320 million euros ($403.8 million).
Procter & Gamble Co. (P&G) has completed its acquisition of the Ambi Pur brand from Sara Lee Corp. for 320 million euros ($403.8 million).
Ambi Pur is an air freshener brand with a presence in 80 countries. It also has a strong presence in Western Europe and Asia with several toilet care products.
"We are pleased we have closed the deal and are excited that we can now move on to integrate the Ambi Pur business, " said David Taylor, P&G group president, global home care. "The acquisition of Ambi Pur strengthens P&G’s global leadership in home care and specifically air care by extending our reach to serve more consumers in more parts of the world more completely."
Marcel Smits, interim chief executive officer of Sara Lee Corp., said, "We’re pleased to sell our air care Ambi Pur business to the leading consumer goods company P&G. This divestiture will further enable Sara Lee to focus its efforts in areas where we have a strong competitive position and can generate shareholder value."