Unilever Disposes Bertolli Olive Oil

Unilever signed a definitive agreement for the disposal of its Bertolli olive oil and vinegar business with Grupo SOS for a consideration of Euro 630m.

 The
transaction is structured as a worldwide, perpetual licence by
Unilever of the Bertolli brand in respect of olive oil and premium
vinegar. It includes the sale of the Italian Maya, Dante, and San
Giorgio olive oil and seed oil businesses, as well as the factory at
Inveruno, Italy
Unilever will retain the Bertolli brand for all
other categories including margarine, pasta sauces, and frozen meals.
The Bertolli brand remains a priority for Unilever with strong growth
plans based on capturing the growing appetite for Mediterranean food
products
The combined turnover of Bertolli olive oil and vinegar
and the Maya, Dante and San Giorgio businesses was around €380m in
2007.
The transaction is part of Unilever’s announced plans to
dispose of non-strategic brands with collectively more than €2
billion in turnover.

The agreement, which is subject to the
relevant regulatory approvals, is expected to close during 2008.