P&G’s new coffee company will employ more than 1,200

Coffee’s hot and Cincinnati-based Procter & Gamble plans to create an independent company to capitalize on it. The Folgers Coffee Company will employ more than 1,200 at four sites and will be headquartered in Cincinnati. P&G will create the company by spinning off its Folgers business, which had sales of $1.6 billion last year. The spin-off will allow it to focus more attention on the coffee business, whose main brand is Folgers, the leading retail coffee brand in North America. “This separation allows The Folgers Coffee Company to further develop and leverage its brand portfolio in a coffee-specific business model,” said P&G Chief Executive A.G. Lafley.
Source: Doug Shelton, Procter & Gamble
Writer: David Holthaus