Procter & Gamble May Sell Jif, Crisco Brands

April 26 -- — Jif peanut butter may go well with jelly, but it apparently it isn't such a tasty business combined with potato chips and juice.

The sticky stuff's parent company, Procter & Gamble Co. is planning to sell or swap Jif peanut butter and its Crisco shortening brands because its says the two highly profitable brands simply don't fit with the consumer product giant's long-term business plans.

“This decision is another example of the strategic choices we’re making to accelerate profitable growth,” said CEO Alan G. Lafley. “Our game plan remains the same. We want to build big brands in core categories and deliver better consumer and shareholder value.”

Jorge P. Montoya, president of P&G’s global food and beverage business, explained: “We will focus on accelerating the profitable growth of our strong coffee business, as well as the Pringles snacks and juice businesses.”

In addition to Pringles, Folgers coffee, and juice brands in a new joint venture with Coca-Cola Co., P&G markets approximately 300 brands to nearly five billion consumers in over 140 countries. Among them are Tide detergent, Crest toothpast, Pantene Pro-V shampoo and Pampers diapers.