NEW YORK — Colgate-Palmolive is bolstering its foothold in the European personal care market by acquiring from Unilever the Sanex personal care brand for about $940 million.
Sanex is a multicategory personal care brand with 2010 net sales of about $260 million, primarily in western Europe. Liquid body cleansing and deodorants each represent nearly 50% of the business.
The deal is structured as an all-cash acquisition for shares and net assets. The transaction is expected to close by the end of the second quarter this year.