Business briefs/leads
NEW YORK -- Colgate-Palmolive Co. said this week it 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 this year's third quarter.
The detergents being sold include the brands Fab, Dynamo, Arctic Power, ABC, Cold Power and Fresh Start, and the Ajax brand license for laundry detergents in the United States, Canada and Puerto Rico.
Phoenix Brands LLC was formed by Lehman Brothers Merchant Banking Group to buy various household brands from Dutch consumer giant Unilever in December 2003. Its brands include Rit fabric dyes, Niagara spray starch and Sunlight Dish Detergent
mmmmmm, clean clothes...../Homer Simpson voice
Myself, I mostly use Dr Bronner's Magic Soap, because it doesn't contain GHB.
