Procter & Gamble exploring sale of $7 bn Wella hair care unit

Procter & Gamble Co is working with Goldman Sachs to explore the sale of its Wella hair care business that could be worth around $7 billion, sources familiar with the matter told Reuters, as the world’s largest consumer products company streamlines its business.

P&G is exploring all options for the unit, which includes a professional and a trade business. That may result in selling the whole or parts, the sources said on Friday, cautioning that no final decision had been taken.

A P&G spokesman said the company did not comment on rumour or speculation. Goldman Sachs was not immediately available to comment.

Cincinnati-based P&G said in August it would shed 80 to 100 slow-growing product lines in order to focus on about 80 brands such as Tide laundry detergents and Pampers diapers which generate most of its profit and revenue.

In November, it announced the sale of its Duracell battery unit to Warren Buffett’s Berkshire Hathaway Inc and it has already sold the bulk of its pet food business to Mars Inc and Spectrum Brand Holdings Inc.