Clorox to sell auto care businesses
OAKLAND, Calif. Clorox is looking to sell its global auto care businesses, which include such brands as Armor All and STP, in an all-cash transaction valued at approximately $780 million.
The business will be sold to an affiliate of Avista Capital Partners, Clorox said. The transaction — in which the buyer will acquire the worldwide rights to distribute the market-leading Armor All and STP brands, as well as two auto care manufacturing facilities — is expected to close by the end of this calendar year.
"We believe this transaction is in the best interest of shareholders as we seek to reshape our portfolio," said Clorox chairman and CEO Don Knauss. "As we have acknowledged in the past, our auto care business does not align as strongly with our strategy to focus on key consumer megatrends, such as health and wellness and sustainability. The auto care brands hold leading market-share positions, and we’re pleased to have identified a new growth-oriented owner who will continue to work with the talented auto care team to build on this strong foundation."
P&G’s Children’s Safe Drinking Water program to aid Pakistan flood victims
CINCINNATI Procter & Gamble’s not-for-profit program is teaming up with the U.S. State Department’s Pakistan Relief Fund.
P&G said its Children’s Safe Drinking Water program will provide 28 million PUR water treatment packets to help flood victims in Pakistan. The program utilizes PUR packets, a water-purifying technology developed by P&G and the Centers for Disease Control and Prevention, to help reduce sickness and death resulting from drinking contaminated water. One small PUR packet quickly turns 10 liters of dirty, potentially deadly water into clean, drinkable water.
"P&G’s commitment to help in times of natural disasters is how we fulfill P&G’s purpose to touch and improve lives," said Bob McDonald, P&G chairman, president and CEO. "P&G is eager to bring clean drinking water to the people of Pakistan by partnering with USAID and the U.S. State Department’s Pakistan Relief Fund so that our many partners in Pakistan can provide more than a quarter of a billion liters of clean drinking water."
Cream of Wheat brand expands with Cinnabon variety
PARSIPPANY, N.J. B&G Foods’ Cream of Wheat brand is getting sweeter with a new instant hot cereal.
New Cream of Wheat Cinnabon instant hot cereal is a combination of the convenience and high nutritional content of cream of wheat with the unmistakable crave appeal and aroma of Cinnabon’s cinnamon rolls. Each box of Cream of Wheat Cinnabon instant hot cereal includes 10 35-g instant packets. Each packet, equal to one serving, has 100 calories, 0 g of fat and is an excellent source of vitamin D, calcium and iron.
The launch of the new instant hot cereal will be supported through a host of strategic marketing programs.
"Cinnabon’s partnership with Cream of Wheat is a perfect example of our strategy to align our brand with companies that create delicious, innovative products, that, in turn, add value to both brands’ equities, as well as for consumers," said David Wenner, president and CEO of B&G Foods.