Colgate-Palmolive to buy Unilever’s Sanex brand for $940 mn
23 Mar 2011
Colgate-Palmolive Co, the $15 billion global consumer personal products company today said that it will acquire Unilever's Sanex personal-care brand for about $940 million and sell its Colombian laundry detergent business to Unilever for $215 million.
Sanex is a premium-priced and multi-category personal care brand with a distinct positioning around healthy skin and strong market share positions in Europe.
It had 2010 net sales of €187 million ($260 million), primarily in Western Europe with liquid body cleansing and deodorants each representing nearly 50 per cent of the business.
The Sanex purchase is an all cash acquisition for $940 million (€672 million) and Colgate expects the transaction to close by the end of the second quarter of this year.
"The deal is in response to the European Commission's requirement that Unilever divest the Sanex brand in the European Economic Area (EAA)," Unilever said in a statement.
New York-based Colgate will sell its Colombian laundry detergent business to Unilever for $215 million.