14th Nov 2007 13:00
Unilever PLC14 November 2007 Unilever Agrees to Sell Lawry's and Adolph's Brands Englewood Cliffs, NJ - November 14, 2007 - Unilever today announced that it hassigned a definitive agreement with McCormick & Company, Incorporated to sell itsLawry's and Adolph's branded seasoning blends and marinades business in the USand Canada for $ 605 million (EUR 410 million) in cash. The transaction, whichis subject to regulatory approval, is expected to close in 2008. The Lawry's and Adolph's brands generated approximately $150 million (EUR 100million) in combined revenue for Unilever in 2006. "This transaction takes us a step forward as we continue to reshape ourportfolio in North America by sharpening our focus on building strong brandswith global reach," said Michael B. Polk, President, Unilever Americas. Under the terms of the transaction, the company's manufacturing facility inIndependence, Mo., is remaining with Unilever, since it produces other Unileverproducts. No Unilever employees will be transferred with the business. The transaction is part of Unilever's announced plans to dispose ofnon-strategic brands, with collectively more than EUR 2 billion in turnover. ------ For further information, please contact: Anita Larsen, Unilever US Media Relations, 201-894-7760, [email protected] Unilever London office: Trevor Gorin + 44 207 822 6010 Unilever Rotterdam office: Tanno Massar + 31 10 217 4844 SAFE HARBOUR STATEMENT: This announcement may contain forward-lookingstatements, including 'forward-looking statements' within the meaning of theUnited States Private Securities Litigation Reform Act of 1995. Words such as'expects', 'anticipates', 'intends' or the negative of these terms and othersimilar expressions of future performance or results, including financialobjectives to 2010, and their negatives are intended to identify suchforward-looking statements. These forward-looking statements are based uponcurrent expectations and assumptions regarding anticipated developments andother factors affecting the Group. They are not historical facts, nor are theyguarantees of future performance. Because these forward-looking statementsinvolve risks and uncertainties, there are important factors that could causeactual results to differ materially from those expressed or implied by theseforward-looking statements, including, among others, competitive pricing andactivities, consumption levels, costs, the ability to maintain and manage keycustomer relationships and supply chain sources, currency values, interestrates, the ability to integrate acquisitions and complete planned divestitures,physical risks, environmental risks, the ability to manage regulatory, tax andlegal matters and resolve pending matters within current estimates, legislative,fiscal and regulatory developments, political, economic and social conditions inthe geographic markets where the Group operates and new or changed priorities ofthe Boards. Further details of potential risks and uncertainties affecting theGroup are described in the Group's filings with the London Stock Exchange,Euronext Amsterdam and the US Securities and Exchange Commission, including theAnnual Report & Accounts on Form 20-F. These forward-looking statements speakonly as of the date of this announcement. Except as required by any applicablelaw or regulation, the Group expressly disclaims any obligation or undertakingto release publicly any updates or revisions to any forward-looking statementscontained herein to reflect any change in the Group's expectations with regardthereto or any change in events, conditions or circumstances on which any suchstatement is based. About Unilever Unilever (NYSE: UL, UN), one of the world's largest consumer products companies,aims to add vitality to life by meeting everyday needs for nutrition, hygieneand personal care. Each day, around the world, consumers make 160 milliondecisions to purchase Unilever products. The company has a portfolio of brandsthat make people feel good, look good and get more out of life. In North America, these brands include recognized names such as: Axe, "all," Ben& Jerry's, Bertolli, Breyers, Caress, Country Crock, Degree, Dove personal careproducts, Hellmann's, Knorr, Lipton, Popsicle, Promise, Q-Tips, Skippy,Slim-Fast, Snuggle, Suave, Sunsilk and Vaseline. All of the preceding brandnames are registered trademarks of the Unilever Group of Companies. Dedicatedto serving consumers and the communities where we live and work, Unileverthroughout North America employs approximately 15,500 people in more than 60office and manufacturing sites - generating approximately $10.6 billion (EUR 8.5billion) in sales in 2006. For more information, visit www.unileverna.com. END. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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