Colgate-Palmolive and Danaher Make Acquisitions
U.S. consumer goods company Colgate-Palmolive Co. (NYSE: CL – $65.55) has acquired a local toothpaste maker in Myanmar. Colgate bought Laser Brand Toothpaste and other personal care products from Shwe Ayar Nadi Co. Ltd., a local privately-held business group. Although the company did not disclose terms, sources say that C-P paid around $100 million. The acquisition is one of the largest investments from an American company in Myanmar since economic sanctions against the country were first eased in 2012, ending the country’s six decades of isolation under military rule. The investment reflects Colgate-Palmolive’s commitment to growing its business in this important emerging Southeast Asian country, once known as Burma. Colgate will acquire Laser’s manufacturing and tube forming facilities and will produce Laser-brand toothpaste, along with importing Colgate branded goods from Thailand. Over the course of the next year, it will move manufacturing of Laser Brand from Thailand to Myanmar.
GTCR, a leading private equity firm, announced today that its Devicor Medical Products unit has signed an agreement to be acquired by Danaher Corporation’s (NYSE: DHR – $79.17) Leica Biosystems, a leading provider of anatomical pathology solutions and automation used to advance cancer diagnostics. Devicor is a prominent medical device company specializing in products for use in breast biopsy procedures. The company is the global market leader in the vacuum-assisted biopsy segment of the breast biopsy market. Its products include the Mammotome Breast Biopsy System, tissue markers and related products, which, to date, have enabled more than four million women to have a minimally invasive breast biopsy. Terms were not disclosed.
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