ICS Magazine

Procter & Gamble May Sell Food Businesses to Gain Earnings

April 25, 2001
Cincinnati, Ohio (Reuters) -- Consumer products giant Procter & Gamble Co. says it may sell its Jif peanut butter and Crisco shortening brands, parts of a food business that have been weighing on company earnings, according to a Reuters news release.

According to the news service, “The company [P&G], known for Tide laundry detergent, Crest toothpaste and a host of other household brand names, said it could also opt to put the brands in a joint venture or swap them for other lines.”