Unilever sells Sanex to Colgate-Palmolive for €672m
Acquires Colgate-Palmolive’s laundry brands in Columbia
Unilever has agreed to sell its global Sanex business to fellow conglomerate Colgate-Palmolive for €672m, subject to regulatory approval. The company simultaneously announced its acquisition of Colgate-Palmolive’s laundry detergent brands in Columbia for $215m, subject to regulatory approval and the completion of the Sanex disposal to Colgate-Palmolive.
The deal is in response to the European Commission’s requirement that Unilever divest Sanex – a multi-category personal care brand which amassed net sales of €187m in 2010 – in the European Economic Area.
“Sanex is a very strong brand that we have admired for a long time,” commented Colgate’s chairman, president and ceo Ian Cook. “We are delighted that this acquisition will strengthen Colgate’s positions in the shower gel and deodorant categories in several key countries in Europe and our overall personal care businesses in that region.”
Unilever’s president Michael Polk added: “We are pleased to be divesting Sanex in what we consider to be a very attractive deal for Unilever. At the same time, we are delighted to be adding the Fab, Lavomatic and Vel brands to our portfolio in Columbia.”
