“Over the past 18 months, we've divested, discontinued, or consolidated 55 brands, including the completion of the Duracell transaction at the end of February,” Jon Moeller, CFO of Procter & Gamble Co. (NYSE: PG) told investors during the company’s fiscal 2016 third quarter earnings call Apr. 26. “We have 50 more brands in the exit process, including the 41 Beauty brands in the transaction with Coty. In total, we'll exit 105 brands and all the complexity they create. These brands represent only about 6% of fiscal 2013 profit. Going forward, we're anchoring our portfolio on 10 category-based business units and about 65 brands."

Cincinnati-based P&G will focus on 10 business units that consist of about 65 brands that are growing faster, such as Pampers, Bounty, Charmin, Crest, Tide and NyQuil. “We also expect that the portfolio that we're going to be left with is a healthier, stronger portfolio that will grow and will grow more profitably,” added Moeller.

P&G is selling 40-plus beauty brands to Coty Inc. and also recently completed the sale of Duracell batteries to Warren Buffett's Berkshire Hathaway Inc. (NYSE: BRK.A). Earlier in 2016, P&G reached a deal to sell its Pert haircare brand to German consumer company Henkel.

In the earnings release, P&G said that sales revenue increased by 1 percent, but its sales volume dropped by 2 percent. The company blamed some of the sales drop to brand exits. P&G’s portfolio restructuring has yet to reflect improvement in its stock price. P&G stock’s closed at $79.55, a 10 percent drop from $88.60 on Nov. 13, 2014, the day the Duracell transaction was originally announced. P&G was trading down in mid-day trading Apr. 27.

Newell Rubbermaid (NYSE: NWL), located in Atlanta, has also been shedding non-core businesses so it can focus on its main divisions, such as writing, baby and parenting product lines. Earlier in 2016, the company said it will sell its Levolor and Kirsch window covering brands to Hunter Douglas for $270 million. In 2015, Newell Rubbermaid sold its Endicia Internet mailing services business to for $215 million. Newell Rubbermaid won Mergers & Acquisitions' 2015 M&A Mid-Market Award for Strategic Buyer of the Year.

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