Colgate buys Sanex from Unilever for $940 million

US consumer goods group Colgate-Palmolive has agreed to pay around $940 million for Sanex, a shower gel and deodorant brand which owner Unilever had been ordered to sell. The European Commission asked Unilever to divest Sanex for anti-trust reasons after the Anglo-Dutch company acquired it when buying US group Sara Lee's personal care business in 2009. Sanex had sales of 187 million euros ($265 million) in 2010, largely in Western Europe.
Also on Wednesday, Unilever agreed to buy Colgate's laundry detergent brands in Colombia, such as Fab, Lavomatic and Vel, for $215 million. Colgate said the deals were expected to add, on a combined basis, about 4 percent to earnings in 2011.