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Prell shampoo washed up?
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May 5, 1999: 10:16 a.m. ET
Procter & Gamble may sell the icon brand to concentrate on Pantene, others
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NEW YORK (CNNfn) -Prell shampoo, billed in 1970s as taking hair from flat to fluffy, is on the auction block.
Procter & Gamble said Wednesday it "is exploring a possible divestiture" of the brand, whose original green tube concentrate commanded 16 percent of the shampoo market in 1962.
The shampoo business has exploded since then, and so has Procter & Gamble's (PG) beauty care line.
The maker of Secret, Safeguard and Oil of Olay says Prell sales accounted for less than 1 percent of its beauty care revenue in fiscal year 1998. Overall revenue for the Cincinnati, Ohio-based company was $37.2 billion during the period.
Prell spokeswoman Mindy Montgomery Patton declined to estimate the Prell line's worth, but the company says the unit is lucrative.
"Although Prell is a profitable and highly recognized brand, it is no longer a strategic fit for us," said Rob Matteucci, vice president and general manager of P&G's hair care business. "We believe we can better maximize shareholder return by focusing our resources on brands that offer the greatest potential for global business growth, such as Pantene Pro-V and Head & Shoulders."
If an acceptable offer isn't received, P&G says it will retain the brand.
Procter & Gamble shares rose 9/16 to 92-5/16 early Wednesday. 
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Procter & Gamble
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