Clearasil sale

Procter & Gamble solicits bids for anti-acne brand and has retained Goldman, Sachs to oversee a deal, the company announces Aug. 23. While Clearasil is profitable, P&G says it is making "tough choices" on dedicating resources within the beauty care sector. Clearasil represents less than 2% of P&G's $7.39 bil. beauty care sales. The decision is part of P&G's brand review that will refocus marketing spending on the firm's top 10 brands; Clearasil had been rumored to be on the selling block (1"The Tan Sheet" Aug. 7, p. 8). P&G will retain the brand if it does not receive an "acceptable offer"