P&G Said to Kick Off Sale of Beauty Brands Including Wella

Procter & Gamble Co. has kicked off the sale of some of its beauty brands as the world’s biggest consumer-product maker seeks to shed laggard assets, people familiar with the matter said.

P&G has sent out sale documents to potential bidders for its Wella haircare unit, cosmetics brands and its fragrance business, according to the people, who asked not to be identified as the sale isn’t public. The businesses could be sold individually or combined, and could fetch as much as $19 billion altogether, said one of the people.