Getting your Trinity Audio player ready...
Minnetonka Inc. signed a letter of intent to sell its liquid soap businesses, including the Softsoap brand, to Colgate-Palmolive Co. The transaction confirms a story in The Tribune on July 30. Terms weren`t disclosed, but the company said the businesses ”are expected to be valued in the range of $60 million to $65 million on a tax-free basis.” Minnetonka`s core business is its Calvin Klein Cosmetics subsidiary, marketer of the Obsession fragrance.
