Colgate-Palmolive Co. has agreed to sell its North American heavy-duty laundry detergent brands to Phoenix Brands LLC.
The sales includes the brands Fab, Dynamo, Arctic Power, ABC, Cold Power and Fresh Start as well as the license of the Ajax brand for laundry detergents in the U.S, Canada and Puerto Rico, Colgate-Palmolive said yesterday.
The sale is part of the company’s plan to deemphasize detergents and to focus on its high-margin oral, personal and pet care businesses, Colgate Chairman and CEO Reuben Mark said in a statement.
The sales will generate a one-time after-tax gain of $60 million, the company said.
Phoenix Brands’ product line includes Rit fabric dyes, Niagara spray starch and Sunlight Dish Detergent.
The deal is expected to close in the third quarter of 2005.
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