Unilever agrees to sell Sanex
By David Jones |
March 24, 2011, Thursday
|
Print Edition
Print Edition
US consumer goods group Colgate-Palmolive has agreed to pay around US$940 million for Sanex, a shower gel and deodorant brand which owner Unilever had been ordered to sell.
The European Commission asked Unilever to divest Sanex for anti-trust reasons after the Anglo-Dutch company acquired it when buying US group Sara Lee's personal care business in 2009.
Sanex had sales of 187 million euros (US$265 million) in 2010, largely in Western Europe.
Also yesterday, Unilever agreed to buy Colgate's laundry detergent brands in Colombia, such as Fab, Lavomatic and Vel, for US$215 million.
Colgate said the deals were expected to add, on a combined basis, about 4 percent to earnings in 2011.
Colgate chairman and chief executive Ian Cook said: "Sanex is a very strong brand that we have admired for a long time."
The European Commission asked Unilever to divest Sanex for anti-trust reasons after the Anglo-Dutch company acquired it when buying US group Sara Lee's personal care business in 2009.
Sanex had sales of 187 million euros (US$265 million) in 2010, largely in Western Europe.
Also yesterday, Unilever agreed to buy Colgate's laundry detergent brands in Colombia, such as Fab, Lavomatic and Vel, for US$215 million.
Colgate said the deals were expected to add, on a combined basis, about 4 percent to earnings in 2011.
Colgate chairman and chief executive Ian Cook said: "Sanex is a very strong brand that we have admired for a long time."
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