Colgate-Palmolive said it will buy Sanex personal care brand in Europe from Unilever for about $940 million to expand in the higher-margin personal care and pet nutrition businesses.

Colgate said it also agreed to sell its laundry detergent business in Colombia to Unilever for $215 million.

Colgate said the deals are expected to add, on a combined basis, of about 4 per cent on total company earnings in 2011. – Reuters