Colgate-Palmolive to Sell Bleach Brands to Clorox

Colgate-Palmolive to Sell Bleach Brands to Clorox

Colgate-Palmolive Co. said Wednesday it will sell its Latin American and Canadian bleach brands to Clorox Co. for $126 million.

Colgate, New York, said the sale includes bleach brands Javex, Agua Jane and Nevex and the license of the Ajax brand for a transition period in Colombia, the Dominican Republic and Ecuador.

Colgate Chairman and Chief Executive Reuben Mark said in a news release that the sale is part of the company's plan to divest itself of noncore businesses in favor of oral and personal-care businesses.

Colgate said the sales, which require regulatory approvals, will result in a gain of $70 million.

Don Knauss, Clorox's chairman and CEO, said in a news release, "These acquisitions extend our position as the bleach market leader in the Americas." Clorox is based in Oakland, Calif.