Unilever PLC
02 January 2003
Release: Immediate
UNILEVER COMPLETES SALE OF IBERIA FOODS
Unilever completed the sale of its Iberia Foods business on December 31, 2002,
to an affiliate of the Brooklyn Bottling Group ('BBG') of Brooklyn, New York.
Terms of the sale are not being disclosed.
Iberia Foods, which has annual net sales of $43 million, services more than
3,000 supermarkets, club stores, wholesalers and distributors in parts of the
East Coast of the U.S. Its products are geared toward the tastes and needs of
Hispanic Americans. As part of the agreement, Iberia Foods, through Brooklyn
Bottling Group, will continue to distribute certain Unilever products.
BBG is a vertically integrated food and beverage business with manufacturing,
warehousing, sales, marketing and distribution capabilities. Through its World
Foods division, BBG imports and distributes a product portfolio comprised of
Caribbean and Latino foods from its distribution centers in upstate New York,
New York City, Miami and Atlanta. In addition, BBG distributes proprietary
brands in the soft drink and juice segments.
The sale by Unilever is part of the company's Path to Growth strategy, a
five-year strategic plan announced in February 2000 designed to accelerate
top-line growth and further increase operating margins. The plan includes a
series of initiatives to focus on fewer, stronger brands and businesses, and to
promote faster growth.
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January 2 2003
This information is provided by RNS
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