Procter & Gamble to buy Sara Lee’s air care unit Ambi Pur for $470 million
By APFriday, December 11, 2009
Procter & Gamble buys Sara Lee’s air care business
DOWNERS GROVE, Ill. — Food maker Sara Lee says consumer products giant Procter & Gamble is buying its air care business, Ambi Pur, for $320 million euros, or $470 million.
Ambi Pur has a presence in Europe and will complement Cincinnati-based P&G’s Febreze, which makes air fresheners.
Sara Lee of Downers Grove, Ill. wants to focus on its core food and beverage business. P&G expects the purchase to boost its market presence with products like car air fresheners.
The deal is expected to close in fiscal 2010.
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