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Form 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported) July 12, 2005

 

 

COLGATE-PALMOLIVE COMPANY

(Exact name of Registrant as Specified in Charter)

 

 

Delaware   1-644-2   13-1815595
(State or Other Jurisdiction
of Incorporation)		   (Commission File Number)   (IRS Employer
Identification No.)

 

300 Park Avenue, New York, NY   10022
(Address of Principal Executive Offices)   (Zip Code)

 

Registrant’s telephone number, including area code (212) 310-2000

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Item 7.01. Regulation FD Disclosure.

 

Attached as Exhibit 99 is a copy of a press release of Colgate-Palmolive Company dated July 12, 2005. Such information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any registration statement or other document under the Securities Act of 1933.

 

Item 9.01. Financial Statements and Exhibits.

 

(c) Exhibits. The following exhibit is filed with this document.

 

Exhibit
Number
  

Description

99   Press release, dated July 12, 2005, issued by Colgate-Palmolive Company

 

2

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    COLGATE-PALMOLIVE COMPANY
Date: July 12, 2005   By:  

/s/ Stephen C. Patrick

    Name:   Stephen C. Patrick
    Title:   Chief Financial Officer

 

3

EXHIBIT INDEX

 

Exhibit
Number
  

Description

99   Press release, dated July 12, 2005, issued by Colgate-Palmolive Company

 

4

Press release, dated July 12, 2005

Exhibit 99

 

Bina Thompson 212-310-3072

Hope Spiller 212-310-2291

 

FOR IMMEDIATE RELEASE…

 

Colgate To Sell Its North American Laundry Detergent Brands;

 

Separately, Will Repatriate $800 Million From Overseas Operations Under American Jobs Creation Act

 

New York, New York, July 12, 2005... Colgate-Palmolive Company (NYSE:CL) announced today its agreement to sell its North American heavy-duty laundry detergent brands to Phoenix Brands LLC. The transaction includes the sale of the detergent brands Fab, Dynamo, Arctic Power, ABC, Cold Power and Fresh Start, and the license of the Ajax brand for laundry detergents, in the United States, Canada and Puerto Rico.

 

Reuben Mark, Colgate’s Chairman and CEO said, “The sale of these detergent brands is an important part of Colgate’s strategy to de-emphasize detergents while focusing on our high margin, fast-growing oral, personal and pet care businesses.”

 

The sale, which is subject to approval by U.S. regulatory authorities, is expected to close in the third quarter of 2005 and generate a one-time after-tax gain of $60 million. Other one-time items expected in the third quarter 2005 include the previously disclosed restructuring charges of approximately $50 million after-tax and as expected, a one-time tax charge covering cash repatriation from overseas operations under the American Jobs Creation Act. It is expected that approximately $800 million will be repatriated at a one-time tax cost estimated at $35 million.

 

Mr. Mark concluded, “The sale of the North American detergent brands will increase our North American gross profit margin by 100 basis points and generate even greater focus on our strong and strategically vital oral, personal and pet care businesses.”

* * *

 

About Colgate-Palmolive: Colgate-Palmolive is a leading global consumer products company, tightly focused on Oral Care, Personal Care, Home 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, Elmex, 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 web site 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, 2004) 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 web site at http://www.colgate.com.