Unilever Sells Culver Brands, Expands Offerings in UK
On October 28, 2011, Unilever announced the signing of a definitive agreement to sell its Culver Specialty Brands division, which includes Mrs. Dash salt-free branded seasoning blends, Molly McButter branded flavored sprinkles, Sugar Twin branded sugar substitute, Bakers Joy branded baking spray, and Static Guard branded anti-static spray in the U.S. and Canada, to B&G Foods, Inc. for $325 million (EUR 230 million) in cash. The transaction, which is subject to regulatory approval, is expected to close this year.
Culver Specialty Brands, which came to Unilever with acquisition of The Alberto Culver Company, generated revenue of approximately $90 million (EUR 64 million) for the 12 months ending September 30, 2011. Culver Specialty Brands products are manufactured at third-party facilities so no Unilever-owned plants are affected by this transaction.
The transaction is consistent with Unilever’s continued focus on brands with global potential in core categories.
In other Unilever news, Unilever U.K. has expanded its portfolio to include Colman’s Mustard, PG Tips, Hellmann’s, Knorr and Bertolli Sauces. Start Licensing will continue to represent Unilever brands, and will seek to develop partners in kitchenware, housewares, publishing, paper products, apparel and storage.
“We’re looking forward to working with Start Licensing on our extended range of market-leading brands," says Julie McCleave, commercial manager for licensing at Unilever. "Start has continued to present us with a clear and comprehensive representation strategy that differentiates each of these unique brands within the market place. We’re looking forward to implementing their ideas in 2012.”
Culver Specialty Brands, which came to Unilever with acquisition of The Alberto Culver Company, generated revenue of approximately $90 million (EUR 64 million) for the 12 months ending September 30, 2011. Culver Specialty Brands products are manufactured at third-party facilities so no Unilever-owned plants are affected by this transaction.
The transaction is consistent with Unilever’s continued focus on brands with global potential in core categories.
In other Unilever news, Unilever U.K. has expanded its portfolio to include Colman’s Mustard, PG Tips, Hellmann’s, Knorr and Bertolli Sauces. Start Licensing will continue to represent Unilever brands, and will seek to develop partners in kitchenware, housewares, publishing, paper products, apparel and storage.
“We’re looking forward to working with Start Licensing on our extended range of market-leading brands," says Julie McCleave, commercial manager for licensing at Unilever. "Start has continued to present us with a clear and comprehensive representation strategy that differentiates each of these unique brands within the market place. We’re looking forward to implementing their ideas in 2012.”