01.04.06
Colgate-Palmolive Co. sold its Southeast Asian heavy-duty laundry detergent brands to the Procter & Gamble Co., as part of its effort to focus on high-margin, fast-growing business lines.
The sale includes detergent brands Fab, Trojan, Dynamo and Paic, marketed in Thailand, Malaysia, Singapore and Hong Kong. Two detergent dedicated factories will be closed or modified, as a result of the deal.
The company expects the one-time net gain resulting from the transaction will be fully offset by fourth-quarter restructuring charges.
"This simplification of our portfolio will increase gross profit margin in our Asia/African division and will allow even greater focus on our strong and highly profitable oral, personal and pet care businesses," said Chairman and Chief Executive Reuben Mark in a statement.