UNILEVER SELLS SANEX AND ACQUIRES THE LAUNDRY BRANDS OF COLGATE-PALMOLIVE IN COLOMBIA
London & Rotterdam - March 23rd, 2011. Unilever announced today that it has entered a binding agreement to sell the global Sanex business to Colgate-Palmolive for €672m. The transaction is subject to regulatory approval.
The deal is in response to the European Commission's requirement that Unilever divest the Sanex brand in the European Economic Area (EEA). Sanex had net sales of €187 million in 2010, primarily in Western Europe.
Unilever also announced today that it has entered into a binding agreement to acquire Colgate-Palmolive's laundry detergent brands in Colombia for US$215m. This transaction is subject to regulatory approval and the completion of the Sanex disposal to Colgate-Palmolive.
Michael Polk, Unilever's President Categories, said: "We are pleased to be divesting Sanex in what we consider to be a very attractive deal for Unilever. At the same time, we are delighted to be adding the Fab, Lavomatic and Vel brands to our portfolio in Colombia. This acquisition will significantly enhance our position in one of the larger detergents markets in Latin America, bringing critical mass to our Colombian business, enhancing our laundry portfolio in the region and further increasing our presence in the fast-growing emerging markets."
"Our focus is on bolt-on acquisitions that can strengthen our existing portfolio and geographic presence, and help Unilever move closer to achieving our overall ambition of doubling the size of the business. The brands acquired from Sara Lee fill gaps in our current personal care portfolio in Western Europe, the business acquired from Colgate-Palmolive in Colombia will enable us to strengthen our competitive position in laundry in an important region," added Polk.
Both transactions include the trademarks, intellectual property and formulations but do not include any manufacturing facilities.
Unilever works to create a better future every day. We help people feel good, look good and get more out of life with brands and services that are good for them and good for others.
Unilever is one of the world's leading suppliers of fast moving consumer goods with strong operations in more than 100 countries and sales in 180. Consumers buy 170bn Unilever packs around the world every year, and our products are used over two billion times a day.
Our portfolio includes some of the world's best known and most loved brands including twelve €1 billion brands, and global leadership in most categories in which we operate. The portfolio features iconic brands such as: Knorr, Hellmann's, Lipton, Dove, Vaseline, Persil, Cif, Marmite and Pot Noodle.
We have around 167,000 employees in over 100 countries, and generated annual sales of €44.3 billion in 2010. For more information about Unilever and its brands, please visit www.unilever.com
Unilever is Food Industry Leader in the Dow Jones Sustainability World Indexes for the 12th year running. We are included in the FTSE4Good Index Series and attained a top environmental score of 5, leading to inclusion in the FTSE4Good Environmental Leaders Europe 40 Index. We are also ranked 7th in the Global 100 Most Sustainable Corporations in the World, a list compiled by Corporate Knights Magazine. We achieved Platinum Plus standard in the UK's Business in the Community Corporate Responsibility Index 2009, and were named Company of the Year in 2010.
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