FMCG firm Gillette India today said it will not be the authorised distributer of 'Duracell' batteries in the country from November 30 in the wake of global divestment of 'Duracell' portfolio by its affiliate company, Procter & Gamble International Operations SA.
"The Procter & Gamble company USA has decided to globally divest the business of 'Duracell'. As a result of such divestiture, Procter & Gamble International Operations SA has decided to terminate the distributor arrangement entered into with the company," Gillette India said in a BSE filing.
Gillette has been acting as an authorised distributor of 'Duracell' batteries pursuant to an arrangement entered into with its affiliate company, Procter & Gamble International Operations SA.
It further said: "The company has received intimation from Procter & Gamble International Operations SA regarding termination of the distributor agreement...As a result of the termination, the company will not be acting as the distributor of 'Duracell' batteries with effect from November 30, 2015."
Shares of Gillette India closed at Rs 4,574.70 apiece on BSE, up 0.20 per cent from their previous close.
