P&G Goes Native In Acquisition That Aligns With Peltz' Recommendations
P&G purchase of Native deodorants likely is approved by activist investor and potential board member Nelson Peltz, who has pushed the firm to invest in small and local brands as well as natural products. It could be first in a series of tuck-in deals to help the firm compete with e-commerce start-ups.
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P&G’s planned purchase of Merck KGaA’s consumer health care business will grow its personal health portfolio 50%, expand its OTC drug and supplement business abroad and open up new categories. CEO David Taylor framed the acquisition as another step in the firm's ongoing portfolio shakeup.
A spin-off still is an option for Pfizer, as is continuing to operate the unit as it currently does. But P&G's apparent interest and dearth of other OTC business buyers changes the outlook for both companies.