Business

Deal for former Colgate plant completed

Posted January 20, 2011 10:00 pm

Associated Press

CLARKSVILLE, Ind. — A doctor's group has closed a deal to buy and redevelop a closed southern Indiana toothpaste factory known for its landmark 40-foot-diameter clock facing Louisville, Ky.

Officials with the Louisville-based Midwest Center for Foreign Investment say the purchase of the Colgate-Palmolive Plant in Clarksville was completed Wednesday by Boston Development Group LLC.

Midwest Center chief operating officer Katherine Johnson said Thursday that a geriatric specialist who lives in New Albany is the managing partner of Boston Development, which is an Indiana-based group.

Clarksville Town Council President Greg Isgrigg said the purchase "has been a long time coming." The factory once employed about 1,500 people and closed in 2007.

Town Council member Bob Popp told The Courier-Journal of Louisville he's been told the complex was sold for $4 million.

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