Unilever PLC
03 November 2003
UNILEVER AGREES SALE OF AMBROSIA TO PREMIER FOODS
Unilever has agreed to sell its Ambrosia and Brown & Polson businesses to
Premier Foods for an undisclosed sum. Completion is expected at the end of
November following consultation with employees.
Ambrosia, a business within Unilever Bestfoods UK, produces and markets a range
of milk-based ambient desserts including ready-to-use custard, milk puddings and
creamed rice puddings. It employs some 200 people at its Lifton, Devon site.
Brown & Polson is a long established brand relating to cornflour and, within
foodservice channels, ambient dessert products.
The businesses together have annual sales of approximately £60 million (€ 87
million approx).
Within the context of Unilever's global Path to Growth strategy, UBF-UK is
focussing on a core portfolio of brands. It therefore believes that Ambrosia's
and Brown & Polson's best interests are served through their transfer to a new
parent company better placed to develop the businesses' true potential.
Premier Foods, a portfolio company of Hicks, Muse, Tate & Furst, is a leading
player in the UK ambient foods market with brands including Loyd Grossman,
Crosse & Blackwell, Branston Pickle, Sarsons Vinegar, Sun-Pat peanut butter,
Hartley's and Typhoo tea.
-o0o-
November 3, 2003
This information is provided by RNS
The company news service from the London Stock Exchange MLJ
*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.