In a statement made to the Wall Street Journal, Colgate confirmed it had acquired the Laser brand of toothpaste and personal-care products from Shwe Ayar Nadi Co. Ltd., a local privately-held business group, but did not disclose the terms of the deal.

The journal reports that the acquisition is one of the largest investments from a US company since economic sanctions eased in 2012, in the wake of the 2010 elections and the arrival of a more reform-minded government under President U Thein Sein.

The company will acquire Laser’s manufacturing and tube-forming facilities and will produce Laser-brand toothpaste, along with importing Colgate brand goods from Thailand, according to the report.

With the ongoing political and economic reforms and an improving economy, Myanmar presents foreign companies with a potentially lucrative market for consumer goods.

However, US investment in Myanmar continues to lag behind other countries, particularly dominant players China and Thailand, which have long been investing in the country.