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By 1859, P&G had become one of the largest companies in Cincinnati, with sales of $1 million. The company introduced Ivory, a floating soap, in 1879 and Crisco, the first all-vegetable shortening, in 1911.
In the 1940s and 1950s, P&G embarked on a series of acquisitions. It acquired Spic and Span (1945), Duncan Hines (1956), Chairman Paper Mills (1957), Clorox (1957; sold in 1968) and Folgers Coffee (1963).
In 1973, P&G began manufacturing and selling its products in Japan through the acquisition of Nippon Sunhome Company. In 1981, when John G. Smale became the CEO, P&G's financial performance was under pressure...
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