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 PORTLAND, Maine (AP) - Colgate-Palmolive Co. announced Tuesday it's buying Tom's of Maine, the leading maker of natural toothpaste, which used to tweak big toothpaste makers for putting artificial additives like saccharin in their products.
The $100 million cash deal for privately owned Tom's of Maine, which got its start in 1970 by producing a phosphate-free laundry detergent, reflects Colgate's strategy of focusing on the higher-margin oral and personal care businesses.
But founder Tom Chappell said that neither the company's business philosophy nor its quirky toothpaste flavors like fennel, apricot and orange-mango will change.
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