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Colgate-Palmolive Sells Laundry Brands

December 9, 2005

Colgate-Palmolive Co. has agreed to sell its North American laundry detergent brands for an undisclosed sum to consumer products company Phoenix Brands LLC.
The company, whose household brands include Softsoap and Ajax, said the sale was part of a strategy to focus on its fast-growing oral, personal and pet care businesses. Colgate-Palmolive said it will post a one-time gain of $60 million on the sale, which is expected to close in the third quarter.
The detergents sold include the brands Fab, Dynamo, Arctic Power, ABC, Cold Power and Fresh Start, and the Ajax brand license for laundry detergents in the U.S., Canada and Puerto Rico.
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