P&G Sells Zest And Camay Soaps To Unilever

(RTTNews) - Proctor and Gamble (PG) has sold two of its soap brands to European consumer products giant Unilever (UN).

Cincinnati-based P&G says the sale includes the global Camay brand, the Zest brand outside of North America and its Talisman manufacturing plant in Mexico.

The plant employs approximately 170 people who will transfer to Unilever at the completion of the deal.

Terms of the deal were not disclosed. The transaction is expected to close during the first half of 2015 subject to necessary regulatory approvals.

The move is part of P&G's plan to divest dozens of non-core brands in order to focus on more profitable core businesses like Tide detergent, Charmin toilet paper and Crest dental products.

The company recently sold its Duracell battery business to Warren Buffett's Berkshire Hathaway.