For The Record : Colgate-Palmolive agreed to sell two units.
As part of a continuing strategy to trim down to its core consumer products operations, the company has reached tentative agreements to sell its Riviana Foods and Etonic subsidiaries for more than $100 million in cash. Due to its continuing divestiture program, Colgate said it will take a charge against its after-tax 1985 earnings of $62 million. Riviana Foods will be sold to an investment group led by Lastarmco Inc., formerly Louisiana State Rice Milling Co. Etonic, an athletic shoe concern, will be sold to the Swedish shoe company Tretorn AB.
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