The Best Deal Gillette Could Get?
Procter & Gamble’s Acquisition of Gillette
January 27, 2005, was an extraordinary day for Gillette’s James Kilts, the show-stopping turnaround expert known as the “Razor Boss of Boston.” Kilts, along with Procter & Gamble chairman Alan Lafley, had just orchestrated a $57 billion acquisition of Gillette by P&G. The creation of the world’s largest consumer products company would end Kilts’s four-year tenure as CEO of Gillette and bring to a close Gillette’s 104-year history as an independent corporate titan in the Boston area. The deal also capped a series of courtships between Gillette and other companies that had waxed and waned at various points throughout Kilts’s stewardship of Gillette. But almost immediately ...
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