Colgate-Palmolive Company has sold its southeast Asian heavy-duty laundry detergent brands to the Procter & Gamble Company as part of its effort to focus on high-margin, fast-growing business lines.
The sale includes detergent brands Fab, Trojan, Dynamo and Paic, which are marketed in Thailand, Malaysia, Singapore and Hong Kong. As a result of the deal, two detergent factories will be closed or modified. The company said it expects that 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,” explained chairman and chief executive Reuben Mark.
Colgate Sells Asian Laundry Brands to P&G
Published February 14, 2006
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