Colgate is just like any other major company.

They branch off into other areas to expand their profits and stability. They don't just decide, "Hey, let's make XYZ", they normally buy another company that is already making it, and change the corporate structure to suit their internal goals (unless it is a truly new and unique product).

They are no different than any other conglomerate, and lowering quality standards would be ridiculous, as it would destroy the customer base of the company they acquired.