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COLGATE-PALMOLIVE COMPANY

(CL)
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Colgate's Hill's Plans $250 Million Kansas Manufacturing Plant

06/18/2021 | 09:37am EDT

By Colin Kellaher

Colgate-Palmolive Co.'s Hill's Pet Nutrition unit on Friday said it plans to invest more than $250 million to build a new factory in Kansas to help meet growing demand for its pet foods.

Hill's, based in Topeka, said it expects the new plant in Tonganoxie will be completed by 2023 and will employ at least 80 people by 2025.

Colgate's pet nutrition business accounted for about 18% of the consumer-products company's $4.34 billion in sales in the first quarter this year. Hill's saw sales growth of 9.5% during the quarter, compared with overall company sales growth of 6%.

Hill's has four other manufacturing sites in the U.S., including two in its home state of Kansas.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

06-18-21 0936ET

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Financials (USD)
Sales 2021 17 454 M - -
Net income 2021 2 772 M - -
Net Debt 2021 6 411 M - -
P/E ratio 2021 24,4x
Yield 2021 2,34%
Capitalization 66 992 M 66 992 M -
EV / Sales 2021 4,21x
EV / Sales 2022 4,04x
Nbr of Employees 34 200
Free-Float 57,7%
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Mean consensus HOLD
Number of Analysts 22
Last Close Price 79,42 $
Average target price 86,62 $
Spread / Average Target 9,07%
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Managers and Directors
Noel R. Wallace Chairman, President & Chief Executive Officer
Stanley J. Sutula Chief Financial Officer
Michael Crowe Chief Information Officer
Patricia D. Verduin Chief Technology Officer
Lia Arvanitidou Vice President-Global Research & Development
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