Procter & Gamble is reported to be selling Gillette Co.’s Right Guard deodorant brand in order to gain U.S. antitrust approval of its planned $55 billion acquisition of Gillette.
The brand could sell for $225 million to $300 million, news reports said.
The news comes just one week after P&G said is would sell its SpinBrush battery toothbrush brand to Church & Dwight Co., the maker of Arm & Hammer baking soda, for as much as $100 million. That sale was also a condition of antitrust approval. SpinBrush is marketed under the Crest brand, which overlaps with Gillette’s Oral-B brand. That deal called for an upfront payment of $75 million and possible additional payments of up to $30 million. P&G bought SpinBrush in 2001 from Dr. Johns Products, Ltd for $475 million, reports said.
Cincinnati-based P&G’s acquisition of Boston-based Gillette is expected to close this fall.
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