Colgate Completes Purchase of European Oral Care Company
June 01 2004 - 8:11AM
PR Newswire (US)
Colgate Completes Purchase of European Oral Care Company NEW YORK,
June 1, 2004 /PRNewswire-FirstCall/ -- Colgate-Palmolive Company
(NYSE:CL), world leader in oral care, today announced, as expected,
its completion of the purchase of 100% of the outstanding shares of
GABA Holding AG for CHF1051 million (US $841 million). Included in
the assets of the business acquired is $112 million of net cash.
The agreement to purchase GABA, a privately-owned European oral
care company, was signed and announced in December 2003. Reuben
Mark, Colgate's Chairman and CEO said, "We are excited to move
forward on this strategically important, highly complementary
business combination. GABA will help further build our world
leadership in the highly profitable, fast-growing toothpaste
business." * * * About Colgate-Palmolive: Colgate-Palmolive is a
leading global consumer products company, tightly focused on Oral
Care, Personal Care, Household Surface Care, Fabric Care and Pet
Nutrition. Colgate sells its products in over 200 countries and
territories around the world under such internationally recognized
brand names as Colgate, Palmolive, Mennen, Softsoap, Irish Spring,
Protex, Sorriso, Kolynos, Ajax, Axion, Soupline, Suavitel and Fab,
as well as Hill's Science Diet and Hill's Prescription Diet pet
foods. For more information about Colgate's global business, visit
the Company's website at http://www.colgate.com/. This press
release (other than historical information) may contain
forward-looking statements. Actual events or results may differ
materially from those statements. Investors should consult the
Company's filings with the Securities and Exchange Commission
(including the information set forth under the caption "Cautionary
Statement on Forward-Looking Statements" in the Company's Form 10-K
for the year ended December 31, 2003) for information about factors
that could cause such differences. Copies of these filings may be
obtained upon request from the Company's Investor Relations
Department or the Company's website at http://www.colgate.com/.
DATASOURCE: Colgate-Palmolive Company CONTACT: Bina Thompson,
+1-212-310-3072, or Hope Spiller, +1-212-310-2291, both of
Colgate-Palmolive Company Web site: http://www.colgate.com/
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