P&G, Gillette put Right Guard up for sale

P&G, Gillette put Right Guard up for sale

The Right Guard deodorant business, which is operated by The Gillette Co., is being put up for sale, according to a report from The Daily Deal.

Procter & Gamble Co. is putting the business up for sale to win approval for its $57 billion purchase of the Boston-based manufacturer and retailing giant, said the report.

Gillette (NYSE:G) manufactures Right Guard, which has annual sales of about $150 million.

The auction for the business is slated for next month and is expected to sell for $225 million to $300 million, said the Deal.

Procter & Gamble (NYSE: P&G) spokesman Doug Shelton said he could not comment with regard to the report.

The Deal said likely bids may come from consumer products companies such as Unilever, Colgate-Palmolive Co., Church & Dwight Co., L'Oreal SA and Beiersdorf AG.

It's been expected that P&G would sell Right Guard to win Federal Trade Commission approval for its Gillette purchase because combined the companies have a market share of 43 percent in men's deodorant, the Deal said, citing data from Information Resources Inc.