22nd May 2014 05:53
LONDON (Alliance News) - Unilever PLC is in advanced talks to sell its Ragu pasta sauce business to Mizkan Group for more than USD2 billion following a months-long auction process, Reuters reports.
Citing people familiar with the matter, Reuters said the Japanese condiments maker prevailed over established food companies for the brand, including Hormel Foods Corp.
Negotiations are still continuing and Unilever and Mizkan have yet to sign a deal, Reuters reports. The divestment talks come as Unilever continues to reshape its US portfolio and follows the sale of its Skippy peanut butter and Wishbone salad dressings brands.
http://www.reuters.com/article/2014/05/21/us-unilever-ragu-idUSBREA4K12V20140521
By Alice Attwood; [email protected]; @AliceAtAlliance
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