Procter & Gamble sells soap brand to Mexican market
P&G has been doing business in South America for years and is continually looking to promoting its products in the Latin American markets.
In fact, the company recently announced the sale of one of its soap brands to Mexico, in addition to other countries in Latin America. The sale was made to Kimberly-Clark de Mexico.
The sale of the soap brand, Escudo, came after over half a century of successful sales in the country. Since its introduction to the market, Escudo has come to be the leading antibacterial soap brand.
Though the preliminary steps of the sale have been taken, the sale has not yet closed. The sale should be closed by June, after the company receives the required regulatory approvals.
The transaction's amount has not been released.