Colgate to buy Sanex brand from Unilever for about $940 million

Reuters

(Reuters) - Colgate-Palmolive Co said it will buy Sanex personal care brand in Europe from Unilever PLC for about $940 million to expand in the higher-margin personal care and pet nutrition businesses.

Colgate said it also agreed to sell its laundry detergent business in Colombia to Unilever for $215 million.

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Colgate said the deals are expected to add, on a combined basis, of about 4 percent on total company earnings in 2011.

(Reporting by NR Sethuraman; Editing by Gopakumar Warrier)