Divestment: Unilever to sell Culver Speciality Brands

THE HAGUE: Anglo-Dutch food and cosmetics giant Unilever confirmed on Saturday the sale of its Culver Speciality Brands division to US-based company B&G Foods in a multi-million dollar deal. “Unilever... has signed a definitive agreement with B&G Foods” to sell the division for U$325 million in cash, it said in a statement sent to AFP. “The transaction, which is subject to regulatory approval, is expected to close this year,” it added. Culver Specialty Brands is part of the Alberto Culver Company, which was recently bought by Unilever. It generated revenues of around 64 million euros for the year ending September 30, Unilever said.

Published in The Express Tribune, October 30^th, 2011.