UNILEVER SELLS ITALIAN FROZEN

RNS Number : 5323P

Unilever PLC

19 July 2010

 



UNILEVER SELLS ITALIAN FROZEN FOOD BUSINESS TO BIRDS EYE IGLO

19 July 2010: Unilever today announced that it has signed a binding agreement for the sale of its Italian Frozen Foods business, Findus to a company in which Birds Eye Iglo has a significant stake for a consideration of €805 million.

The transaction includes the sale of the Italian Findus business, comprising the following leading brands: 4 Salti in Padella, Sofficini, Capitan Findus and That's Amore, and a dedicated factory in Cisterna, Italy.

James Hill, Chairman of Unilever Italy, said: "Findus is the lynchpin of an attractive and profitable Frozen Foods business and I am confident that it will prosper under the dedicated resource and focused management that the new owners will bring. With this deal Unilever is now in a stronger position to focus on its core categories outside frozen foods and to achieve long-term growth in the Italian market."

As part of the agreement, approximately 650 factory and head office employees will transfer.  Sales of Findus Italy were €462 million in 2009. The transaction is subject to relevant EU anti-trust regulatory approvals.

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About Unilever

Unilever works to create a better future every day. We help people feel good, look good and get more out of life with brands and services that are good for them and good for others.

We are one of the world's leading suppliers of fast moving consumer goods with strong local roots in more than 100 countries.  Our portfolio includes some of the world's best known and most loved brands including eleven €1 billion brands, and global leadership in many categories in which we operate. The portfolio features iconic brands such as: Knorr, Flora, Wall's ice cream, Hellmann's, Dove, Lynx, Surf and Domestos.

We have around 163,000 employees in approaching 100 countries, and generated annual sales of €40 billion in 2009.  For more information about Unilever and its brands, please visit www.unilever.com.

SAFE HARBOUR: This document may contain forward-looking statements, including 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995. Words such as 'expects', 'anticipates', 'intends', 'believes' or the negative of these terms and other similar expressions of future performance or results, including any financial objectives, and their negatives are intended to identify such forward-looking statements. These forward-looking statements are based upon current expectations and assumptions regarding anticipated developments and other factors affecting the Group. They are not historical facts, nor are they guarantees of future performance. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including, among others, competitive pricing and activities, economic slowdown, industry consolidation, access to credit markets, recruitment levels, reputational risks, commodity prices, continued availability of raw materials, prioritization of projects, consumption levels, costs, the ability to maintain and manage key customer relationships and supply chain sources, consumer demands, currency values, interest rates, the ability to integrate acquisitions and complete planned divestitures, the ability to complete planned restructuring activities, physical risks, environmental risks, the ability to manage regulatory, tax and legal matters and resolve pending matters within current estimates, legislative, fiscal and regulatory developments, political, economic and social conditions in the geographic markets where the Group operates and new or changed priorities of the Boards. Further details of potential risks and uncertainties affecting the Group are described in the Group's filings with the London Stock Exchange, Euronext Amsterdam and the US Securities and Exchange Commission, including the 20-F Report and the Annual Report and Accounts 2009. These forward-looking statements speak only as of the date of this announcement. Except as required by any applicable law or regulation, the Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Group's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

 

 

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