Procter & Gamble has sold its Sure deodorant line to a private equity firm.
Innovative Brands, LLC, purchased Sure for an undisclosed amount. The buyout follows the firm’s purchase of Pert Plus shampoo from P&G in July. Terms of the sale were not released.
Innovative Brands LLC, established by Phoenix-based private equity firm Najafi Cos., bought Sure as part of its plan to acquire and build consumer brands that no longer fit in with the strategic direction of bigger corporations.
As part of its strategy, Innovative Brands says it has big plans for the Sure deodorant line. The firm plans to build awareness and launch new marketing plans around the brand, it said in a statement.
The Sure brand, first introduced in 1973, gained fame in the 1980s for one of the most memorable advertising tags, “Raise your hand if you’re Sure.”
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