Unilever Italy & Findus

Unilever Italy accelerates its growth ambitions, focusing on international brands and announces intention to seek buyer for Findus frozen foods business.

ROME, Italy Unilever Italy today announced its intention to explore the marketplace for a buyer of its Frozen Foods business, Findus, with turnover in excess of 450m euros and a dedicated factory in Cisterna, Italy.

James Hill, Chairman of Unilever Italy, commented: “Unilever has a powerful portfolio of international brands and a full innovation pipeline, which we plan to drive even harder to accelerate our growth in Italy. Findus is an iconic, local brand and the lynchpin of an attractive and profitable Frozen Foods business in Italy. This success is a credit to the team who developed and managed the business over the years. However, as Frozen Foods is no longer a core product area for Unilever in Europe, we must reconsider its future.

“Any sale would enable us to focus on our other categories, increasing investment in brands which will deliver higher levels of growth and shareholder value. In addition, we are seeking a more sustainable business model for the Frozen Foods business, operating with greater autonomy, focus and competitiveness under third-party ownership.”

Safe Harbour

This announcement may contain forward-looking statements, including ‘forward-looking statements’ within the meaning of the United States Private Securities Litigation Reform Act of 1995. Words such as ‘expects’, ‘anticipates’, ‘intends’, ‘believes’ or the negative of these terms and other similar expressions of future performance or results, and their negatives, are intended to identify such forward-looking statements. These forward-looking statements are based upon current expectations and assumptions regarding anticipated developments and other factors affecting the Group. They are not historical facts, nor are they guarantees of future performance. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including, among others, competitive pricing and activities, economic slowdown, industry consolidation, access to credit markets, recruitment levels, reputational risks, commodity prices, continued availability of raw materials, prioritisation of projects, consumption levels, costs, the ability to maintain and manage key customer relationships and supply chain sources, consumer demands, currency values, interest rates, the ability to integrate acquisitions and complete planned divestitures, the ability to complete planned restructuring activities, physical risks, environmental risks, the ability to manage regulatory, tax and legal matters and resolve pending matters within current estimates, legislative, fiscal and regulatory developments, political, economic and social conditions in the geographic markets where the Group operates and new or changed priorities of the Boards. Further details of potential risks and uncertainties affecting the Group are described in the Group’s filings with the London Stock Exchange, Euronext Amsterdam and the US Securities and Exchange Commission, including the 20-F Report and the Annual Report and Accounts 2009. These forward-looking statements speak only as of the date of this document. Except as required by any applicable law or regulation, the Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Group’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Unilever PLC

100 Victoria Embankment
London
EC4Y 0DY

+44 (0) 20 7822 5252
Press-Office.London@Unilever.com

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