The Procter & Gamble Company (PG) signed an agreement to acquire the Ambi Pur Brand from Sara Lee Corporation (SLE) for €320 million ($470 million). Ambi Pur is a leading global air care brand with several toilet care products. The company has strong a presence in Western Europe and Asia. The Ambi Pur brand generated annual sales of approximately €260 million ($355 million) for fiscal 2009.

The acquisition of Ambi Pur strengthens Procter and Gamble’s global leadership business in Home Care, especially Air Care by reaching out to more consumers worldwide. This acquisition not only brings in the strong Ambi Pur brand equity, but also provides geographic presence particularly in Europe and Asia.

Moreover, the Ambi Pur brand acquisition adds high-performance products and new technologies to the company’s current Air Care portfolio. The products include car air fresheners, battery-powered air fresheners, toilet rim blocks and other non-energized air fresheners.

The transaction is subject to customary closing conditions and regulatory approvals. The deal is expected to close in the current fiscal year, ending on June 30, 2010. PG also stated that the transaction will not have any material impact on the company’s results in fiscal year 2010.

The acquisition is also in line with the company’s strategy of focusing on Personal Health Care (includes Home care business), Oral Care and Feminine Care. In Aug. 2009, the company sold off its pharmaceutical business to Warner Chilcott plc (WCRX) for $3.1 billion.

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