Unilever annonces sale of Sanex to Colgate-Palmolive
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