Reuters: P&G mulling sale of Wella hair care business

CINCINNATI — Procter & Gamble, which is in the midst of restructuring its portfolio, is reportedly exploring the sale of its Wella hair care business, according to a Reuters report.



Sources familiar with the matter told Reuters that the company is working with Goldman Sachs to explore the sale of Wella, which could be worth roughly $7 billion.



A P&G spokesperson told Reuters that the company does not comment on rumor or speculation.



Last month, it was announced that Warren Buffett’s Berkshire Hathaway is snapping up P&G’s Duracell battery business in a deal valued at $4.7 billion.



As part of the exit of the battery business, P&G also closed the sale of its interest in a China-based battery joint venture.



In July, P&G divested its pet business to Mars, Inc.