Blackstone Advisory Partners
Selected Transactions
 
P&G Header
Date
Closed November 2008

Company Description
Procter & Gamble is a leading provider of branded consumer packaged goods that are sold in more than 180 countries.  Its brands are divided into three business units:  Beauty, Health and Well Being, and Household Care.

Situation Overview
Advised P&G in the separation of its Folgers coffee business through a tax-free split-off and merger with Smuckers.

Transaction Summary
P&G separated Folgers, a non-core slower growth business, to streamline its portfolio.  P&G executed the transaction as a tax-free split-off and merger to maximize after-tax shareholder value and realized ~$3.3 billion in value.

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