Unilever agrees to sell Culver Specialty Brands
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Posted: 28 October 2011 | Unilever | No comments yet
Unilever has signed a definitive agreement with B&G Foods, Inc. to sell its Culver Specialty Brands division…
Unilever today announced that it has signed a definitive agreement with B&G Foods, Inc. to sell its Culver Specialty Brands division, which includes Mrs. Dash salt-free branded seasoning blends, Molly McButter branded flavored sprinkles, Sugar Twin branded sugar substitute, Bakers Joy branded baking spray and Static Guard branded anti-static spray in the US and Canada for $325 million (EUR 230 million) in cash. The transaction, which is subject to regulatory approval, is expected to close this year.
Culver Specialty Brands, which came to Unilever with acquisition of The Alberto Culver Company, generated revenue of approximately $90 million (EUR 64 million) for the twelve months ending September 30, 2011.
Culver Specialty Brands products are manufactured at third-party facilities so no Unilever-owned plants are affected by this transaction.
The transaction is consistent with Unilever’s continued focus on brands with global potential in core categories.
