Procter & Gamble is to divest its Western European tissue/towel business to SCA. The deal, for an undisclosed sum, involves the sale of manufacturing assets, P&G's Tempo brand in Europe and Hong Kong, and the licensing of Charmin & Bounty trademarks in Europe. Exact timing will depend on completion of all regulatory processes.
"This is a strategic choice to focus on continued growth of our tissue, towel and facial tissue businesses in the US, Canada, and Mexico led by billion dollar brands Bounty and Charmin," said David Taylor, president of P&G's global tissue/towel business. The Charmin, Bounty and Puffs brands in the US, Canada, and Mexico are not affected by the SCA transaction in Europe.
P&G expects that employees at five European manufacturing plants will become employees of SCA at the deal closing date. The plants are located in Manchester, England, Neuss and Witzenhausen, Germany, Lucca, Italy, and Orleans, France.
| Contact |
| Procter & Gamble |
