Colgate on acquisitions
This article was originally published in The Rose Sheet
Executive Summary
Colgate-Palmolive would "not easily move into" OTC or pharmaceutical categories, CEO Reuben Mark states during June 1 Sanford Bernstein Strategic Decisions Conference. Colgate has been identified as a potential bidder for Pfizer's Consumer Healthcare unit, which in addition to OTCs includes the Listerine oral care brand (1"The Rose Sheet" May 29, 2006, p. 4). Pfizer has expressed it is not interested in selling its brands individually. Separately, Mark notes the firm's advertising spend will be up a record 13%-14% in 2006. Colgate spent $297.1 mil. behind its global brands in the first quarter (2"The Rose Sheet" March 14, 2006, p. 4). The company also placed a record amount behind advertising last year, with spending up 11.5%, exec notes...