MEDIA RELEASE PR37552
Procter & Gamble Acquires Ambi Pur
CINCINNATI, Dec. 12, 2009 /PRNewswire-AsiaNet/ --
The Procter & Gamble Company (NYSE: PG) announced today it has signed a binding
offer with the Sara Lee Corporation (NYSE: SLE) to acquire Ambi Pur for euro 320
million ($470 million). Under the terms of the agreement, P&G will acquire Ambi Pur,
a leading global air care brand with presence in 80 countries, as well as several
toilet care products with strong presence in Western Europe and Asia.
"The acquisition of Ambi Pur strengthens P&G's global leadership in Home
Care and specifically Air Care by extending our reach to serve more consumers
in more parts of the world more completely," said David Taylor, P&G group
president-global home care. "This acquisition brings the strong Ambi Pur
brand equity and complementary geographic presence, particularly in Europe
and Asia."
"Ambi Pur also brings high-performance products and new technologies to
our current Air Care portfolio, including car air fresheners, battery-powered
air fresheners, toilet rim blocks and various non-energized air fresheners,"
added David Taylor. "We see many opportunities to leverage these additional
technologies and P&G's core capabilities in consumer understanding,
innovation, brand building and go-to-market execution to grow both the
Febreze and Ambi Pur brands robustly for many years to come."
"The Ambi Pur brand has a rich history in innovation and is enjoyed by
millions of consumers," said Vincent Janssen, chief executive officer, Sara
Lee International Household and Body Care. "Receiving this offer from leading
consumer goods company P&G validates the tremendous trends and potential of
this innovative air care leader."
The transaction, which is subject to customary closing conditions and
regulatory clearances, is anticipated to close in the current fiscal year,
which ends on June 30, 2010. Both P&G and Sara Lee will consult with relevant
work councils and regulatory bodies during the review process.
P&G also stated that the transaction should not have a material impact on
the company's results in fiscal year 2010. The Ambi Pur brand generated annual sales
of approximately 260 million euro and estimated operating income(1) of 24 million
euro for the year ending June 2009, using an exchange rate of 1.37 dollars per euro.
Forward Looking Statement
All statements, other than statements of historical fact included in this
release or presentation, are forward-looking statements, as that term is
defined in the Private Securities Litigation Reform Act of 1995. Such
statements are based on financial data, market assumptions and business plans
available only as of the time the statements are made, which may become out
of date or incomplete. We assume no obligation to update any forward-looking
statement as a result of new information, future events or other factors.
Forward-looking statements are inherently uncertain, and investors must
recognize that events could differ significantly from our expectations. In
addition to the risks and uncertainties noted in this release or
presentation, there are certain factors that could cause actual results to
differ materially from those anticipated by some of the statements made.
These include: (1) the ability to achieve business plans, including growing
existing sales and volume profitably despite high levels of competitive
activity, especially with respect to the product categories and geographical
markets (including developing markets) in which the Company has chosen to
focus; (2) the ability to successfully manage ongoing acquisition and
divestiture activities to achieve the cost and growth synergies in accordance
with the stated goals of these transactions without impacting the delivery of
base business objectives; (3) the ability to successfully manage ongoing
organizational changes designed to support our growth strategies, while
successfully identifying, developing and retaining key employees; (4) the
ability to manage and maintain key customer relationships; (5) the ability to
maintain key manufacturing and supply sources (including sole supplier and
plant manufacturing sources); (6) the ability to successfully manage
regulatory, tax and legal requirements and matters (including product
liability, patent, intellectual property, competition law matters, and tax
policy), and to resolve pending matters within current estimates; (7) the
ability to successfully implement, achieve and sustain cost improvement plans
in manufacturing and overhead areas, including the Company's outsourcing
projects; (8) the ability to successfully manage currency (including currency
issues in certain countries, such as Venezuela, China and India), debt,
interest rate and commodity cost exposures and significant credit or
liquidity issues; (9) the ability to manage continued global political and/or
economic uncertainty and disruptions, especially in the Company's significant
geographical markets, as well as any political and/or economic uncertainty
and disruptions due to a global or regional credit crisis or terrorist and
other hostile activities; (10) the ability to successfully manage competitive
factors, including prices, promotional incentives and trade terms for
products; (11) the ability to obtain patents and respond to technological
advances attained by competitors and patents granted to competitors; (12) the
ability to successfully manage increases in the prices of raw materials used
to make the Company's products; (13) the ability to stay close to consumers
in an era of increased media fragmentation; (14) the ability to stay on the
leading edge of innovation and maintain a positive reputation on our brands;
and (15) the ability to rely on and maintain key information technology
systems. For additional information concerning factors that could cause
actual results to materially differ from those projected herein, please refer
to our most recent 10-K, 10-Q and 8-K reports.
About Procter & Gamble
Four billion times a day, P&G brands touch the lives of people around the
world. The company has one of the strongest portfolios of trusted, quality,
leadership brands, including Pampers(R), Tide(R), Ariel(R), Always(R),
Whisper(R), Pantene(R), Mach3(R), Bounty(R), Dawn(R), Gain(R), Pringles(R),
Charmin(R), Downy(R), Lenor(R), Iams(R), Crest(R), Oral-B(R), Duracell(R),
Olay(R), Head & Shoulders(R), Wella(R), Gillette(R), Braun(R) and Fusion(R).
The P&G community includes approximately 135,000 employees working in about
and in-depth information about P&G and its brands.
About Sara Lee Corporation
Each and every day, Sara Lee (NYSE: SLE) delights millions of consumers
and customers around the world. The company has one of the world's best-loved
and leading portfolios with its innovative and trusted food, beverage,
household and body care brands, including Ambi Pur, Ball Park, Douwe Egberts,
Hillshire Farm, Jimmy Dean, Kiwi, Sanex, Sara Lee and Senseo. Collectively,
these brands generate almost $13 billion in annual net sales covering
approximately 180 countries. The Sara Lee community consists of 41,000
in-depth information about Sara Lee and its brands.
(1) "Estimated operating income" is based on adjusted operating segment income
and includes adjustments for the impact of depreciation, amortization and significant
items, as defined by the Sara Lee Corporation.
SOURCE: Procter & Gamble
CONTACT: Paul Fox,
+1-513-983-3465,
or fox.pd@pg.com,
Marie-Laure Salvado,
+1-513-983-7643,
or salvado.ml@pg.com,
John Chevalier,
Investor Relations,
+1-513-983-9974,
or chevalier.jt@pg.com,
all of Procter & Gamble
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