#6 William Procter and James Gamble

Company: Procter and Gamble

It is an American multinational consumer goods company, who’s products include foods, beverages, cleaning agents and personal care products. Fortune magazine ranked P&G at fifth place of the “World’s Most Admired Companies”.

Year Founded: 1837

How their partnership was formed:  James Gamble was an U.S based Irish soap maker and industrialist, and William Procter was an U.S based English candle maker and industrialist. William Procter married Olivia Noriss, the sister of James Gamble’s wife, and their father-in-law, Alexander Norris, first suggested that the two should go in to business together in 1837. The suggestion worked magic, which led to formation of Procter & Gamble on October 31, the same year.     

Why their partnership worked: Both had family bonds and a same purpose of establishing successful business. In 1858 to1859, the sales of their products reached to $1million, and about 80 employees worked for them. During American Civil War, P&G won contracts to supply the Union Army with soap and candle, the profit increased; products became popular with army than with common consumers. From there the partnership worked wonders on the growth of company.