In the latest of a series of divestments, leading FMCG multinational Procter & Gamble has announced the sale of its Hipoglos brand in Brazil to health & beauty firm Johnson & Johnson for an undisclosed sum.
Hipoglos nappy cream has been present for over 70 years in Brazil and sells in a tube format of various sizes in regular and almond varieties. The brand was purchased by Procter & Gamble in Brazil 1986.
A report in Supermercado Moderno stated that the acquisition by Johnson & Johnson would make the firm the leader in nappy rash creams in Brazil, the largest market for such products in the world.
Commenting on the acquisition, Johnson & Johnson president Duda Kertesz said: “The baby care segment is very strategic for J&J. This acquisition adds another strong brand with high quality products to the portfolio we offer to consumers in Brazil, as well as reinforcing our market leading position”.
Procter & Gamble’s latest divestment comes only shortly after it announced the sale of its Escudo soap brand in Mexico.
The transaction is expected to close in the next four to six months, subject to necessary regulatory approvals.
Source: P&G / Supermercado Moderno