CINCINNATI — The Procter & Gamble Co. is soliciting offers for its Oxydol brand laundry detergent, a mainstay of the consumer products giant since 1927.
"Although Oxydol is a highly profitable and recognized brand, it is no longer a strategic fit for us," Paul Polman, president of P&G's Global Fabric Care division, said Monday. "We are putting more focus against building brands that offer the greatest potential for global growth."
Cincinnati-based P&G, which also owns the top-selling detergent Tide, said it would retain the Oxydol brand if it does not get an acceptable offer.
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The company made a similar move last week when it sought bids for some of its shortening and cooking oil brands used in restaurants.