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Home Industry News Unilever agrees sale of Sanex to Colgate-Palmolive

Unilever agrees sale of Sanex to Colgate-Palmolive

25th March 2011

Unilever has agreed a deal with Colgate-Palmolive over the divesture of its global Sanex personal care brand.

The transaction, which is subject to regulatory approval, has been valued at 672 million euros (591.2 million pounds) and has been instigated based on requirements imposed by the European Commission.

At the same time, Unilever has agreed to acquire Colgate-Palmolive's Fab, Lavomatic and Vel laundry detergent brands in a deal that is dependent on the completion of the Sanex divesture.

Michael Polk, Unilever's president for categories, said the Sanex sale offers "very attractive" value, while the businesses it is gaining as part of the arrangement well help to improve its competitive position.

"Our focus is on bolt-on acquisitions that can strengthen our existing portfolio and geographic presence and help Unilever move closer to achieving our overall ambition of doubling the size of the business," he explained.

Earlier this month, the company published its 2010 financial results, reporting an 11 percent year-on-year growth in turnover to achieve a total of 44.26 billion euros.ADNFCR-8000103-ID-800476483-ADNFCR

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