Deals and IPOs

As P&G sheds brand, Buffett rejoices others lament

P&G shareholder questions Buffett battery deal
P&G shareholder questions Buffett battery deal

CNBC's Jim Cramer often calls the smartest investor on the planet, in part because the billionaire investor puts money behind marquee brands that have become part of the fabric of modern culture.

And on Thursday, Buffett again made a move that will add another widely recognized brand into his stable of offerings.

Duracell batteries hang on a display rack at a supermarket in Princeton, Ill., Nov. 13, 2014.
Daniel Acker | Bloomberg | Getty Images

Buffett's Berkshire Hathaway announced it will acquire Duracell from Procter & Gamble in . The battery maker now joins Heinz, Fruit of the Loom, Benjamin Moore, Geico and other widely recognized names that make up his company's portfolio.

Read More 10 top brands Warren Buffett's Berkshire Hathaway owns

Although Buffett's buy may delight some, P&G shareholder Carl Boeckman isn't so happy. He fears that P&G has an agenda.

"When you sell off parts of a car you can make money but you don't have a car anymore," Boeckman said on CNBC's "Street Signs," suggesting he's concerned that the divestiture was an early sign of a breakup.

Boeckman cited reports that P&G intends to sell up to 100 brands, or about half its brands, over the next two years, a move he finds concerning. "I asked (CEO) Alan Lafley about this and he assured me this isn't a sign of a breakup," Boeckman said.

But Boeckman remains skeptical. "They've also sold Folgers coffee, Jif peanut butter, and Pringles potato chips," Boeckman said. "All these brands are making money for their new owners."

Boeckman, who holds about 2,000 shares of P&G and has owned P&G stock for decades, worries that shareholders are ultimately going to pay the price for these decisions.

Read MoreDuracell trade is sign Buffett is bearish on P&G

P&G did not immediately respond to CNBC's request for comment.