Unilever sells Ragu and Bertolli sauces for a tasty £1.2bn
FOOD and cleaning products giant Unilever yesterday served up the £1.2billion sale of its Ragu and Bertolli pasta sauce brands in North America.
Unilever put the businesses up for sale earlier this year, along with Slim-Fast, following a review of its portfolio in the US.
It is part of a drive by the group to focus on core brands such as Hellmann’s, Knorr, Wall’s ice-cream, Ben & Jerry’s, Dove and Persil.
Unilever put the businesses up for sale earlier this year, along with Slim-Fast, following a review of its portfolio in the US.
Fast-expanding Japanese condiments maker Mizkan is buying Ragu and Bertolli along with two processing plants in the US.
Unilever sold Ragu in the UK three years ago but retains the rights to the Bertolli brand outside North America.
Mizkan is better known in the UK as the owner of Branston pickles and Sarson’s vinegar which it bought from Premier Foods. It is one of a number of Asian consumer goods companies that have been expanding abroad to make up for slow growth at home.
Japanese distiller Suntory bought US bourbon maker Beam for nearly £10billion last month following its £1.3billion purchase of Lucozade and Ribena from GlaxoSmithKline in September
