Unilever is to sell its oral care brands in the US and Canada to Church & Dwight of Princeton, NJ.
The transaction is expected to be completed in the fourth quarter of 2003, subject to regulatory approvals.
Unilever will receive $104 million in cash at closing, plus additional performance-based cash payments of between $5 million and $12 million.
The sale includes the Mentadent brand of toothpaste and toothbrushes, Pepsodent and Aim toothpaste and exclusive licensing rights to Close-Up toothpaste. Sales of the business for the first six months of 2003 were $61 million.
Church & Dwight will shift the manufacture of the acquired toothpaste brands over the next 12 months to its plant at Lakewood, NJ, which specialises in manufacturing personal care products.