LONDON (ShareCast) - Anglo-Dutch household goods giant Unilever has agreed to sell its Bertolli olive oil and vinegar business to Spanish food company Grupo SOS for €630m.
The deal includes the sale of the group’s Maya, Dante and San Giorgio olive oil and seed oil units and a factory at Inveruno in Italy.
Unilever will keep the Bertolli margarine, pasta sauces and frozen meals brands.
The Bertolli brand remains a priority for the group "with strong growth plans based on capturing the growing appetite for Mediterranean food products", it said.
The transaction, which is part of Unilever's plans to sell non-core assets, is expected to be completed this year.
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