Gillette
This article was originally published in The Rose Sheet
Executive Summary
Stationary business purchased by Newell Rubbermaid following exclusive negotiations since June, the company announces Aug. 22. Newell Rubbermaid, which Gillette purchased from Parker in 1993 for $450 mil., includes Paper Mate, Parker and Waterman writing instruments and Liquid Paper correction products. An internal review of the stationary unit and part of the Braun shaving business commenced in October following a series of quarterly sales declines. Gillette decided to retain the Braun business as a supporting line (1"The Rose Sheet" July 24, In Brief)
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Gillette
Braun personal care appliance brand retained as a supporting line and marketed in key geographic areas where it performs well, Gillette states during a media conference call July 20. The announcement follows an ongoing review conducted by J.P. Morgan (1"The Rose Sheet" Feb. 28, In Brief). Gillette is in negotiations with NewellRubbermaid regarding the sale of its stationary business. Second quarter blade and razor sales rose 8%, while toiletries slipped 14% due to negative currency effects and the March divestiture of White Rain. Gillette may experience additional blades and razors sales growth in the second half of the year with the anticipated debut of a triple-bladed razor for women. Overall second quarter sales increase 2% to $2.25 bil. Gillette reports a loss of $131 mil. compared to earnings of $300 mil. the prior year
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