São Paulo, Brazil - Unilever today announced that it has entered into a definitive agreement to sell its consumer tomato products business in Brazil to Cargill for approximately R$600 million (around EUR 260 million).
The sale includes the consumer tomatoes business including the Pomarola, Tarantella, Elefante, Extratomato, and Pomodoro brands, and a manufacturing facility based in Goiania, Brazil (Goias State) and related manufacturing assets.
"This transaction is in line with our overall strategy of strengthening our portfolio by building strong categories with global reach," said Kees Kruythoff, President, Unilever Brazil. "This also provides us with an opportunity to further enhance our strong relationship with a leading supplier in Cargill and continue both companies' productive relationship with the Brazilian retail and wholesale markets."
Unilever will continue to market and sell tomato products to the Food Service channel. Cargill will manufacture these products on behalf of Unilever under a co-packaging agreement.
- End -
For further information, please contact:
Unilever Brazil - Inpress Porter Novelli: Rose Pimentel + 55 11 3323 1578
Unilever London office: Trevor Gorin + 44 207 822 6010
Unilever Rotterdam office: Flip Dötsch +31 10 2173715
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.