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October 23, 2003
By: TOM BRANNA
Editor
Colgate-Palmolive Company has agreed to sell its European laundry detergent brands, marketed in France, Italy and Scandinavia, to Procter & Gamble. The sale is subject to approval by regulatory authorities in France.Reuben Mark, Colgate’s chairman and chief executive officer, called the sale consistent with Colgate’s strategy to de-emphasize detergents while investing in high margin businesses.Mr. Mark concluded, “This sale will increase our European gross margin and allow...
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