Procter & Gamble

(PG) - Get Report

is considering the sale of its Wash & Go hair care brand, which is sold only in Europe, in order to focus on developing brands with the best potential for global growth.

The consumer products company said it will retain the brand, which makes up less than 1% of its total beauty care sales, unless it receives an acceptable offer. The company's beauty care division, with brands like Pantene, Olay and Max Factor, had worldwide sales of $7.39 billion in the fiscal year ended June 30.

Shares of Procter & Gamble were recently up 44 cents, or 0.6%, to $68.88 in

New York Stock Exchange

trading.