Unilever Sells Sanex to Colgate-Palmolive

Food and cosmetics giant Unilever said on March 23 that it had reached an agreement to sell soap maker Sanex to New York-based Colgate-Palmolive for $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.

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.

Copyright Agence France-Presse, 2011