Henkel acquires line of SOAP to Colgate-Palmolive's clothes in Australia and New Zealand

Henkel has signed an agreement with the Colgate-Palmolive Company to acquire its entire line of SOAP for clothes and for pre-wash product brands in New Zealand and Australia, including the Cold Power brands, Dynamo, Fab and Sard. In total, the brands that will be acquired, generated sales of around € 110 million in fiscal 2014.
The acquisition was made for € 220 million and will be financed in cash. The transaction will be accounted to earnings after closing, which is still subject to regulatory approvals, is expected to occur in the third quarter of 2015.