Unilever annonces sale of Sanex to Colgate-Palmolive

23rd March 2011, Comments 0 comments

Anglo-Dutch food and cosmetics giant Unilever said Wednesday it had reached an agreement to sell soap maker Sanex to New York-based Colgate-Palmolive for 672 million euros ($951 million).

"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.

Sanex had net sales of 187 million euros in 2010, mainly in Western Europe.

Unilever also said it had agreed to buy Colgate-Palmolive's laundry detergent brands in Colombia for $215 million.

© 2011 AFP

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