Clorox and P&G Seal Deal for Glad Joint Venture

The Clorox Company, Oakland, CA, has finalized a previously announced agreement with Procter & Gamble to establish a joint venture in food and trash bags, containers and wraps under the Glad, GladWare and related trademarks.

The joint venture will have exclusive use of a range of current and future patents, trademarks, and other proprietary technologies developed by P&G that can be used to help drive innovation and growth on the well-established Glad business. The agreement is subject to government approval.

Clorox executives said as part of its “powerful growth strategy,” this deal will help the company drive innovation, consumer focus and shareholder return in the top third of Clorox’s peer group of companies. Key drivers of Clorox’s strategy include a strong portfolio of top-tier brands; a robust and sustainable program for reducing costs and reinvesting savings into the business; superior execution in brand building and a strong, disciplined organization to deliver superior results, according to executives.

“Growth and solid financial performance depend on careful, disciplined and consistent execution,” said Clorox chairman and chief executive officer Craig Sullivan. “We’re creating and executing best practices throughout all of our businesses. And we are making systemic improvements to ensure we have the brands, the technology and the organization to deliver the kind of growth and return our shareholders deserve.”