Clorox Terminates JV with Bombril S.A.

Household and institutional product maker The Clorox Company, Oakland, CA, said on Monday it has terminated its agreement to form a joint venture with Bombril S.A., the leading Brazilian cleaning utensils and household cleaner business. Clorox said in late January it would buy a 50% stake in Detergentes Bombril S.A. The company told Bombril S.A. on Thursday, however, that it was canceling the agreement because some of the transaction’s conditions had not been satisfied, a release issued by Clorox said. Clorox Chief Executive Officer Craig Sullivan said in the release that the company remained committed to its strategy for growth in Latin America, and that it would continue to look to invest in countries and businesses with potential for strong sales growth and profitability in its core product areas.