P&G plans to spin off Folgers

CHICAGO Procter & Gamble Co. is expected to announce it will spin off its Folgers coffee business by the end of the month, the Wall Street Journal reported today on its Web site.

A P&G spokesman declined to comment on the story, citing company policy.

P&G had been reported as considering the sale of Folgers—the largest U.S. coffee brand—as well as Pringles potato chips and Duracell batteries. The Folgers business, which has just under $2 billion in annual sales, has long been seen as one that did not necessarily fit in with P&G’s portfolio, as the company focuses on higher growth areas like beauty and health care.