- published: 27 Apr 2016
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Procter & Gamble (P&G) is an American multinational corporation headquartered in downtown Cincinnati, Ohio and manufactures a wide range of consumer goods.
In 2011, P&G recorded $82.6 billion dollars in sales. Fortune magazine ranked P&G at fifth place of the "World's Most Admired Companies" list, which was up from sixth place in 2010. Procter & Gamble is the only Fortune 500 company to issue C Share common stock.
William Procter, a candlemaker, and James Gamble, a soapmaker, emigrated from England and Ireland respectively. They settled in Cincinnati initially and met when they married sisters, Olivia and Elizabeth Norris. Alexander Norris, their father-in-law, called a meeting in which he persuaded his new sons-in-law to become business partners. On October 31, 1837, as a result of the suggestion, Procter & Gamble was born.
In 1858–1859, sales reached $1 million. By this point, approximately 80 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.
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