Valued Partner,
Earlier this morning, we announced our intention to exit the battery business and our current
preference to split off the Duracell business into a stand-alone company. This transaction will
likely occur in the second half of calendar year 2015.
Duracell is one of the most iconic brands in Consumer Package Goods Industry and has an
excellent track record of growing market share and more importantly the category faster than
any competitor. Duracell has clear and winning strategies to win through iconic brand building
and superior innovation. Under the current leadership team Duracell is stronger today than at
any point in its history. Duracell’s products are superior in performance and quality. The
Duracell’s brand equity is stronger than ever. We are confident that Duracell will further excel
from this strong base and thrive as an independent company. The key reason for our intention
to exit is the lack of strategic synergies with the core P&G categories.
P&G remains fully committed to successfully drive the Duracell business until the transition will
be finalized and Duracell will be able to thrive independently. P&G’s customer support and
service for Duracell will be unchanged and we will continue to invest into Duracell’s iconic brand
building and innovation. While we diligently prepare for the transition and setting up an excellent
Duracell stand alone operation, we will continue Duracell’s strong business momentum. The
existing leadership of Duracell will stay and will remain in charge once Duracell is a stand alone
company. We expect business as usual for Duracell and we would like to thank you for your
continued support as we move forward with this transition.
This plan is clearly in line with P&Gs commitment to grow our mutual businesses by focusing on
our core businesses that create the greatest value for our customers, our consumers, and
ultimately our respective shareholders.
Moving in this direction is clearly in line with our commitment to grow our mutual businesses by
focusing on our core businesses that create the greatest value for us all. We are counting on
your continued support as we move through this transition. If you have any questions, please do
not hesitate to reach out to me our your regular contact at P&G.
Jim Kaleta
P&G Purchases – Global Acquisitions and Divestitures
[email protected]