Antibacterial soap brand sold to Kimberly-Clark’s Mexican division
P&G has sold its Escudo soap brand in Latin America to Kimberly-Clark de México for an undisclosed sum.
The antibacterial soap brand is expected to transfer to its new owner in the first half of this year. Escudo is the leading brand in its category in the market. It has a history that dates back more than 50 years.
This new sale is the latest from the consumer goods giant, which has already sold off most of its beauty business. The company is thought to be moving away from non-core brands and focusing on the fastest growing businesses in its portfolio. P&G owns a number of home and beauty care brands including Ambi Pur, Charmin and Fairy, as well as Gillette, Head & Shoulders and Pantene.
Last year, P&G announced plans to sell 43 of its beauty brands to Coty. Once the deal is completed, P&G’s portfolio will shrink to around 60 high-performing brands. Coty recently announced that it had received unconditional antitrust clearance from the European Commission in connection with its merger with P&G’s fine fragrance, colour, salon professional and hair colour and styling businesses.