Procter & Gamble Sells ThermaCare
January 28th, 2009
Within the next few months, Procter & Gamble Co. is expected to close a deal that will sell its heat wrap brand, ThermaCare, to Wyeth. Although terms weren’t revealed, fans of the heat wraps may start looking for the heat wraps under Wyeth’s Consumer Healthcare division.
Based in Cincinnati, P&G has been selling the heat wraps in the US since 2002. ThermaCare heat wraps are also available in the United Kingdom, Canada, Switzerland Germany, Ireland, and Austria. The wraps are mainly manufactured in a plant in Georgia, which Wyeth will maintain.
ThermaCare heat wraps are indicated for muscle and joint pains, as well as pains attributed to menstruation and arthritis. The products come in six types.
However, ThermaCare is seen as one of P&G’s slower-selling brands. Lately the company has adopted a strategy of selling underperforming brands, as recently as June with plans of selling its coffee line, for over $3 billion, to J.M. Smucker Co.
Wyeth, for their part, seems all the better for the acquisition. Expanding its portfolio seems to be Wyeth’s way of hastening growth. Once in effect, the acquisition will place ThermaCare side by side with Advil and Wyeth’s other pain management products.
Selling off ThermaCare just proves that one’s junk is another treasure. Maybe Wyeth will turn the tide around and improve ThermaCare’s marketing.
It’s basically just short of a name change anyway. The millions of ThermaCare consumers probably won’t see that much a difference between the P&G and Wyeth versions.
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