P&G to split off top selling Folgers brand

31st January 2008

Cincinnati-based multinational Procter & Gamble is to spin off or split off its top selling Folgers coffee brand, to create Folgers Coffee Co, the company announced at the end of January.

P&G, which also produces a wide range of personal care and detergent products, said that as Folgers is only sold in the US and Canada, it did not fit into its strategy of offering products worldwide, a Bloomberg report said.

P&G would never sell coffee globally, the report quoted a spokesperson as saying.

The new company would be located in Cincinnati, P&G said.

Folgers, which has around 1,250 staff, had a turnover of $1.6bn (€1.1bn) in its last financial year.