Lawry's and Adolph's sale
Unilever PLC
14 November 2007
Unilever Agrees to Sell Lawry's and Adolph's Brands
Englewood Cliffs, NJ - November 14, 2007 - Unilever today announced that it has
signed a definitive agreement with McCormick & Company, Incorporated to sell its
Lawry's and Adolph's branded seasoning blends and marinades business in the US
and Canada for $ 605 million (EUR 410 million) in cash. The transaction, which
is subject to regulatory approval, is expected to close in 2008.
The Lawry's and Adolph's brands generated approximately $150 million (EUR 100
million) in combined revenue for Unilever in 2006.
'This transaction takes us a step forward as we continue to reshape our
portfolio in North America by sharpening our focus on building strong brands
with global reach,' said Michael B. Polk, President, Unilever Americas.
Under the terms of the transaction, the company's manufacturing facility in
Independence, Mo., is remaining with Unilever, since it produces other Unilever
products. No Unilever employees will be transferred with the business.
The transaction is part of Unilever's announced plans to dispose of
non-strategic brands, with collectively more than EUR 2 billion in turnover.
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For further information, please contact:
Anita Larsen, Unilever US Media Relations,
201-894-7760, MediaRelations.USA@unilever.com
Unilever London office: Trevor Gorin + 44 207 822 6010
Unilever Rotterdam office: Tanno Massar + 31 10 217 4844
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About Unilever
Unilever (NYSE: UL, UN), one of the world's largest consumer products companies,
aims to add vitality to life by meeting everyday needs for nutrition, hygiene
and personal care. Each day, around the world, consumers make 160 million
decisions to purchase Unilever products. The company has a portfolio of brands
that make people feel good, look good and get more out of life.
In North America, these brands include recognized names such as: Axe, 'all,' Ben
& Jerry's, Bertolli, Breyers, Caress, Country Crock, Degree, Dove personal care
products, Hellmann's, Knorr, Lipton, Popsicle, Promise, Q-Tips, Skippy,
Slim-Fast, Snuggle, Suave, Sunsilk and Vaseline. All of the preceding brand
names are registered trademarks of the Unilever Group of Companies. Dedicated
to serving consumers and the communities where we live and work, Unilever
throughout North America employs approximately 15,500 people in more than 60
office and manufacturing sites - generating approximately $10.6 billion (EUR 8.5
billion) in sales in 2006. For more information, visit www.unileverna.com.
END.
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