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Unilever sell Wish-Bone and Western brands.

Unilever have announced that it has completed the sale of its Wish-Bone and Western dressings brands to Pinnacle Foods.

The two companies have announced the agreement for a total cash consideration of approximately $580m, including the Wish-Bone and Western Dressing's trademarks.

The transaction does not include Unilever's facility in Independence, Missouri at which Wish-Bone and Western brands are currently produced, but the factory will continue to manufacture for Pinnacle Foods under a third-party agreement.

Kees Kruythoff, President of Unilever North America, said: "Wish-Bone is an iconic brand and the number-one Italian dressings brand in the USA. We believe that the potential of both the Wish-Bone and Western brands can now be more fully realised with Pinnacle Foods. As we continue to shape our portfolio to deliver sustainable growth for Unilever, this change will give us the focus to drive growth behind our core foods portfolio."

The annual turnover for Wish-Bone and Western is approximately $190m. The transaction, subject to regulatory approval and customary closing conditions, is expected to close by the end of 2013.

Contact Unilever on tel 020 7822 5252 or visit www.unilever.co.uk
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Title Annotation:foodevo
Publication:Food Trade Review
Date:Jan 1, 2014
Words:187
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