P&G Press Release:
biz.yahoo.com
(I suspect that they've got the names mixed up --- suspect Michael Kehoe should really be Gary Kehoe of Wrigley).
SOURCE: The Procter & Gamble Company
'Great Technology Meets Great Taste!' - Procter
& Gamble, Wrigley Team Up to Create Chewing
Gums with Dental Benefits
CINCINNATI, Aug. 7 /PRNewswire/ -- The Procter & Gamble Company (NYSE:
PG - news) and the Wm. Wrigley Jr. Company today announced an agreement to
bring innovative chewing gums with dental benefits to the world's consumers. The
agreement combines best-in-class capabilities -- Wrigley's worldwide
distribution, consumer research and retail marketing prowess and P&G's oral
care research and development capabilities.
Company officials said consumers have been looking for better choices in
``portable oral care.'' Gum is an excellent vehicle for this, because it allows time
for some dental agents to work and is pleasurable as well as convenient.
The global gum, mint, and breath freshener market is large, with multi- billion
dollar sales -- larger than the toothpaste category and equal in size to other major
consumer goods categories (i.e., diaper, skin, shampoo, or feminine protection).
The Companies noted that the alliance would offer both increased distribution
points through Wrigley's access to checkout aisles, convenience stores, and gas
stations and P&G's access to oral care shelves and dentist offices.
Under the terms of the agreement, the Wrigley Company will license from P&G
various trademarks and oral care technologies, using them to develop, distribute,
and market confectionery products with oral care benefits around the world.
Royalties and others terms were not disclosed.
The companies said that new Wrigley products with P&G technology could be
introduced within a year.
Gary McCullough, Wrigley's Senior VP - Americas, noted ``This combination will
benefit both consumers and retail customers. Wrigley's proven ability to develop
great tasting products combined with P&G's expertise in oral care science provide a basis to address
consumer needs not being met by current oral care confections. Further, our commitment to working with
customers to achieve outstanding retail executions will help to provide broad distribution and gain widespread
trial for these exciting new products.''
Michael Kehoe, P&G's VP and General Manager, Global Oral Care added, ``This agreement will focus two
industry leaders on creating something better than either of our companies could do alone -- it's a perfect fit. On
the heels of Crest Whitestrips(TM) and Crest® SpinBrush(TM), today's news is also the latest in a series of
category-building moves from P&G. Finally, it's another example of P&G using strategic licensing partners to
commercialize innovations faster and more broadly. We are delighted to be working with Wrigley,'' said Kehoe.
News Release available at ``Newsroom'' on Worldwide Web site: pg.com
SOURCE: The Procter & Gamble Company |
