Disposal

Unilever PLC
Unilever NV
11 July 2000


UNILEVER TO SELL EUROPEAN BAKERY SUPPLIES BUSINESS FOR euro 700 MILLION

Unilever announced today that it has reached an agreement in principle to
sell its European Bakery Supplies Business (EBSB) to CSM nv, the Dutch food
products and ingredients company, for a debt free price of euro 700 million,
payable in cash.
 
In February this year, Unilever announced its 'Path to Growth' strategy to
focus on fewer, stronger brands to enable faster growth. Brands and
businesses not part of this strategy would be reviewed in order to maximise
returns to Unilever's shareholders. Unilever's European Bakery Supplies
Business was not included in 'Path to Growth' and purchasers subsequently
expressed interest in this business.
 
Unilever chairman Niall FitzGerald said: 'This divestment is in line with our
strategy as outlined in 'Path to Growth'. Whilst EBSB is no longer of
strategic importance to Unilever, we are delighted that we have found in CSM
a new corporate parent that will grow the business and for which EBSB is an
excellent strategic fit.'
 
The transaction is subject to the necessary regulatory approvals. The
consultation procedures with workers' representatives have commenced.
 
CSM, based in Amsterdam, will acquire Unilever's entire EBSB operations
across 13 European countries, among them MeisterMarken-Werke in Germany,
Arkady Craigmillar in the United Kingdom and Unipro in the Benelux. The
remainder operate as divisions of larger Unilever food companies.
 
EBSB manufactures and markets a wide range of bakery ingredients and frozen
products for artisanal bakeries, catering institutions, and bake-off
stations. Products include bread and confectionery mixes, margarine and fats;
and frozen bakery products such as Danish pastries, muffins and croissants.
Together the businesses have sales in the order of euro 860 million,
operating profit of euro 60 million and employ approximately 3,900 people.
 
Goldman Sachs has advised Unilever on this transaction. CSM was advised by
ABN Amro.

See also separate announcement from CSM nv.