COLGATE-PALMOLIVE COMPANY

U.S. diversified company that produces and distributes household, health care, and personal products. Headquarters are in New York City. Colgate-Palmolive's history traces back to the early 19th century, when William Colgate, a soap and candle maker, began selling his wares in New York City. His company sold the first toothpaste in a tube, Colgate Ribbon Dental Cream, in 1896. In 1928 Colgate & Company was bought by Palmolive-Peet Company. Palmolive-Peet's founder, B.J. Johnson, had developed the formula for Palmolive soap in 1898. At the turn of the century Palmolive, which contained both palm and olive oils, was the world's best-selling soap. The current name was adopted in 1953. Colgate-Palmolive has long been in fierce competition with Procter & Gamble, the country's largest soap and detergent maker. P&G introduced its Tide laundry detergent shortly after World War II, and thousands of consumers turned from Colgate's soaps to the new product. Colgate lost its number one place in the toothpaste market when P&G started putting fluoride in its toothpaste. Colgate now markets a broadly diversified mix of products in the United States and other countries. Major product areas include household and personal care products, food products, health care and industrial supplies, and sports and leisure time equipment.