Duracell, the world's leading battery business, could soon be on the chopping block of leading consumer goods distributor Procter & Gamble, according to Monday reports by Reuters, The New York Times, and Fortune.
The reports state that Procter & Gamble is working with advisors, including Goldman Sachs Group, to shed as many as 100 underperforming brands to be divested. Accounting for an estimated $500 million in sales, Duracell is by far the largest of the brands reportedly under review — which combine for $900 million in total revenue. Braun is second at $100 million.
"The company (P&G) said this month it would consider selling more than half its brands whose sales have been declining for the past three years, a drastic attempt to revive growth and save costs," stated NYT.