P&G Exploring Strategic Alternatives, Including Possible Sale, for Shortening/Oils and Peanut Butter Businesses

Apr 25, 2001, 01:00 ET from Procter & Gamble Company

    CINCINNATI, April 25 /PRNewswire/ -- Procter & Gamble (NYSE:   PG) today
 announced that it is exploring strategic alternatives with respect to its
 Crisco(R) and Jif(R) brands.  P&G will consider various alternative structures
 to increase shareholder value, which could include outright sale, joint
 venture or the potential swapping of consumer brands in exchange for Crisco or
 Jif.
     "Exploring strategic options for P&G's business is an ongoing process.
 This decision is another example of the strategic choices we're making to
 accelerate profitable growth," said A.G. Lafley, CEO.  "Our game plan remains
 the same.  We want to build big brands in core categories and deliver better
 consumer and shareholder value."
     "The Crisco and Jif businesses are highly profitable and have strong brand
 equities," said Jorge P. Montoya, president of P&G's global food and beverage
 business.  "While they are no longer a strategic fit for P&G they represent a
 significant business opportunity for the right buyer."
     Montoya added, "We will focus on accelerating the profitable growth of our
 strong coffee business, as well as the Pringles(R) snacks and juice businesses
 in the new P&G/The Coca-Cola Co. LLC."
     P&G is now soliciting offers for the Crisco and Jif businesses and will
 consider swap, sale or alternative offers for the businesses as a group or as
 individual units.  If an acceptable offer is not received, P&G will retain the
 businesses.
     Procter & Gamble markets approximately 300 brands to nearly five billion
 consumers in over 140 countries.  These brands include Tide(R), Ariel(R),
 Crest(R), Pantene Pro-V(R), Always(R), Whisper(R), Pringles(R), Pampers(R),
 Olay(R), Iams(R) and Vicks(R).  Based in Cincinnati, Ohio, USA, P&G has on-
 the-ground operations in over 70 countries and employs more than
 110,000 people worldwide.
 
     News release available at "Newsroom" on Worldwide Web site:
 http://www.pg.com .
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X54322235
 
 

SOURCE Procter & Gamble Company
    CINCINNATI, April 25 /PRNewswire/ -- Procter & Gamble (NYSE:   PG) today
 announced that it is exploring strategic alternatives with respect to its
 Crisco(R) and Jif(R) brands.  P&G will consider various alternative structures
 to increase shareholder value, which could include outright sale, joint
 venture or the potential swapping of consumer brands in exchange for Crisco or
 Jif.
     "Exploring strategic options for P&G's business is an ongoing process.
 This decision is another example of the strategic choices we're making to
 accelerate profitable growth," said A.G. Lafley, CEO.  "Our game plan remains
 the same.  We want to build big brands in core categories and deliver better
 consumer and shareholder value."
     "The Crisco and Jif businesses are highly profitable and have strong brand
 equities," said Jorge P. Montoya, president of P&G's global food and beverage
 business.  "While they are no longer a strategic fit for P&G they represent a
 significant business opportunity for the right buyer."
     Montoya added, "We will focus on accelerating the profitable growth of our
 strong coffee business, as well as the Pringles(R) snacks and juice businesses
 in the new P&G/The Coca-Cola Co. LLC."
     P&G is now soliciting offers for the Crisco and Jif businesses and will
 consider swap, sale or alternative offers for the businesses as a group or as
 individual units.  If an acceptable offer is not received, P&G will retain the
 businesses.
     Procter & Gamble markets approximately 300 brands to nearly five billion
 consumers in over 140 countries.  These brands include Tide(R), Ariel(R),
 Crest(R), Pantene Pro-V(R), Always(R), Whisper(R), Pringles(R), Pampers(R),
 Olay(R), Iams(R) and Vicks(R).  Based in Cincinnati, Ohio, USA, P&G has on-
 the-ground operations in over 70 countries and employs more than
 110,000 people worldwide.
 
     News release available at "Newsroom" on Worldwide Web site:
 http://www.pg.com .
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X54322235
 
 SOURCE  Procter & Gamble Company