Procter & Gamble has completed 1 recorded acquisition and 2 divestitures or spin-offs, spanning 2005 to 2016.
| Date | Type | Assets | Counterparty | Value |
|---|---|---|---|---|
| Oct 2016 | Divestiture | CoverGirl, Max Factor, Clairol and Wella Professionals | Coty | $12.5bn |
| Feb 2016 | Acquisition (sold) | Duracell | Berkshire Hathaway | $4.7bn |
| Oct 2005 | Acquisition | Gillette, Oral-B, Braun and Venus | The Gillette Company | $57bn |
Procter & Gamble transferred 41 beauty brands, including CoverGirl, Max Factor, Clairol and Wella, to Coty in a Reverse Morris Trust structured to be tax-efficient for P&G shareholders. It was the largest single step in P&G's programme of cutting its portfolio from about 170 brands to 65.
Berkshire Hathaway acquired Duracell from Procter & Gamble in a share exchange worth about $4.7 billion, handing back its P&G stock rather than paying cash. Structuring it as an exchange avoided a large capital gains charge on shares Berkshire had held since the Gillette merger.
Procter & Gamble acquired The Gillette Company in an all-stock deal, adding razors, Oral-B and Braun and making it the largest consumer goods company in the world at the time. Regulators required divestitures in electric toothbrushes and deodorants.
Ownership recorded here as having ended, whether or not a deal record with a filing behind it exists for the transfer.
| Brand | Owned from | Until | Owner today |
|---|---|---|---|
| CoverGirl | Nov 1989 | Oct 2016 | Coty |
| Max Factor | Jan 1991 | Oct 2016 | Coty |
| Clairol | Nov 2001 | Oct 2016 | Coty |
| Wella Professionals | Sep 2003 | Oct 2016 | KKR |
| Pringles | Jan 1968 | May 2012 | Kellanova |
| Folgers | Jan 1963 | Nov 2008 | J.M. Smucker |
| Jif | Jan 1958 | Jun 2002 | J.M. Smucker |