Unilever PLC
Unilever NV
17 November 1999
UNILEVER ACQUIRES CONTROLLING INTEREST
IN COLOMBIAN BUSINESS
Unilever has acquired a 60% controlling interest in the family-
owned Colombian home and personal care company, Varela SA
(Varela), for an undisclosed sum. As part of the deal,
Unilever's Colombian homecare business will be merged into the
Varela operation.
Varela, founded in 1929 and still based in Cali, Colombia,
holds strong market positions in the laundry soap and personal
wash categories. Its leading brands include Puro laundry soap
bar and Sensus and Juno toilet soaps. Varela and Unilever's
Colombian homecare businesses together account for sales in
excess of US$ 100 million .
Unilever believes that combining the local strengths of Varela
with its own international brands and expertise, will
significantly enhance its position in the Colombian homecare
market. It will create a strong base from which to generate
growth and innovative products for the benefit of consumers.
Unilever will be responsible of the day to day management of
the business. The board of the company will comprise
representatives of both Unilever and the Varela family.
This investment demonstrates Unilever's commitment to
enhancing its presence in Latin America, where its sales for
the first nine months of 1999 totalled £2.55 billion and
operating profit, £223 million.
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.