The Procter & Gamble Company (NYSE: PG) announced today that it has completed its acquisition of the Ambi Pur Brand from Sara Lee Corporation (NYSE: SLE) for euro 320 million. The transaction was subjected to regulatory review and work councils consultations in Europe which have been successfully completed. Ambi Pur is a leading global air care brand with presence in 80 countries, and also has several toilet care products, with strong presence in Western Europe and Asia.

"We are pleased we have closed the deal and are excited that we can now move on to integrate the Ambi Pur business, " said David Taylor, P&G Group President, Global Home Care. "The acquisition of Ambi Pur strengthens P&G's global leadership in Home Care and specifically Air Care by extending our reach to serve more consumers in more parts of the world more completely."

"We can now pursue the many opportunities we see to leverage Ambi Pur's high performance products and technologies in Air Care and Toilet Care. This acquisition leverages P&G's core capabilities in consumer understanding, innovation, brand building and go-to-market execution to grow both the Febreze and Ambi Pur brands robustly for many years to come," Taylor added.

"We're pleased to sell our air care Ambi Pur business to the leading consumer goods company P&G," said Marcel Smits, interim Chief Executive Officer, Sara Lee Corp. "We believe that this sale further validates the tremendous potential of this innovative business." Smits added, "This divestiture will further enable Sara Lee to focus its efforts in areas where we have a strong competitive position and can generate shareholder value."