Procter & Gamble

Type: Public (NYSE: PG)
Founded: 1837
Headquarters: One Procter & Gamble Plaza, Cincinnati, Ohio, USA 45202
Industry: Consumer goods
Products: Consumer goods
Website: www.pg.com

General Information

Procter & Gamble Co. (P&G, NYSE: PG) is an American global corporation based in Cincinnati, Ohio, that manufactures a wide range of consumer goods.

Early History

William Procter, a candlemaker, and James Gamble, a soapmaker, formed the company known as Procter & Gamble in 1837. The two men, immigrants from England and Ireland respectively, who had settled earlier in Cincinnati might never have met had they not married sisters, Olivia and Elizabeth Norris.

Since both their industries used similar resources, the Panic of 1837 caused intense competition between the two and as a result it led to discord with the family. Alexander Norris, their father-in law decided to call a meeting where he convinced his new sons-in-law to become business partners. On October 31, 1837, as a result of the suggestion, a new enterprise was born: Procter & Gamble.

The company prospered during the nineteenth century. In 1859, sales reached one million dollars. By this point, approximately eighty employees worked for Procter & Gamble. During the American Civil War, the company won contracts to supply the Union Army with soap and candles. In addition to the increased profits experienced during the war, the military contracts introduced soldiers from all over the country to Procter & Gamble's products. Once the war was over and the men returned home, they continued to purchase the company's products.