In the latest divestment connected with its Path to Growth strategy, Anglo-Dutch consumer goods colossus Unilever has sold nineteen corn and corn oil brands in the US, Canada and Puerto Rico to Associated British Foods, owner of British Sugar and Twinings tea.
Under the €406 million ($361m; £250m) cash deal, ABF will move the brands – which include Mazola salad and cooking oil, Kingsford’s cornflour, Golden Griddle syrup and Purlite cooking oil – into its ACH Food Companies division.
Unilever has been selling off non-core brands as it seeks to concentrate on a smaller portfolio. The group’s food director Patrick Cescau said the nineteen products “simply fall outside of our brand focus”.
Data sourced from: Financial Times; additional content by WARC staff