CLOROX CO /DE/ acquired Colgate-Palmolive's Canada and Latin America bleach businesses for $126 million, a transaction announced in December 2006, structured as All-cash acquisition; Colgate to provide transition services in each country. Canada business expected to close later in December 2006 and the Latin America businesses in the first calendar quarter of 2007, subject to regulatory and customary approvals..
Colgate-Palmolive's Canada and Latin America bleach businesses operates in Cleaning / Laundry (bleach), is based in Canada, Colombia, Dominican Republic, Ecuador, Uruguay, Venezuela. Clorox announced a definitive agreement to purchase Colgate-Palmolive's bleach businesses across Canada, Colombia, the Dominican Republic, Ecuador, Uruguay and Venezuela for an aggregate price of $126 million plus inventory. The deal brought over the Javex bleach brand in Canada, the Nevex brand in Venezuela and the Agua Jane brand in Uruguay, along with a transition license to the Ajax trademark for bleach in Colombia, the Dominican Republic and Ecuador. Clorox also acquired two manufacturing facilities, one in Alberta, Canada, and one in Venezuela, and transferred those employees. The acquired brands were expected to generate about $77 million in sales for calendar 2006 and were the branded category leaders in most of these markets.
Extended Clorox's position as the bleach market leader in the Americas, adding proven laundry and home-cleaning products and providing a platform for growth and for building out its health-and-wellness platform.
Advisory firms were not disclosed for this transaction.