Disposal

Unilever PLC
Unilever NV
29 January 2001

 
UNILEVER AGREES SALE OF EUROPEAN 
SOUPS AND SAUCES TO CAMPBELL  
 
Unilever announced today agreement to sell several of its dry soup and sauces
businesses in Europe to Campbell Soup Company for a debt free price of euro1
billion. The sale is conditional on approval by the European Commission
Mergers Task Force and subject to consultative procedures before completion.
 
The businesses include three instant dry soup brands -- 'Batchelors' in the
United Kingdom, 'Royco' in France and Belgium and 'Heisse Tasse' in Germany;
together with the 'McDonnells' brand in Ireland, 'Oxo' in the UK and Ireland,
the 'Bla Band' brand in Nordic and additional brands in the Netherlands,
Belgium and Portugal. Also included is the 'Lesieur' range of mayonnaise
products in France. Annual sales of the business total approximately euro435
million.
 
The businesses are being divested as a result of undertakings given to the
European Commission in connection with the acquisition of Bestfoods which was
completed in October 2000.
 
The combined businesses have manufacturing sites in the United Kingdom (2),
the Netherlands, Ireland, France and Sweden and have approximately 1,300
employees in total. Net tangible assets are approximately euro100 million.
 
The divestment follows the sale of Unilever's European Bakery Supplies and
Elizabeth Arden businesses, and will bring the cumulative total proceeds
since the acquisition of Bestfoods to around euro2 billion.
 
Patrick Cescau, Unilever Foods director, said: 'We are delighted with this
agreement for Campbell to acquire the entire portfolio of brands being sold
as a result of the undertakings to the EC. Campbell's commitment to grow this
business and the swiftness with which agreement has been reached, removes
much uncertainty for our employees. We will continue to focus on the
integration of Bestfoods and the growth of our business.'


Notes to Editors: attached
 

Editors' Notes:
 
The businesses being divested had combined sales of euro435 million in 2000;
EBITDA of euro87 million and EBIT of euro78 million. Overall sales have grown
at 1 per cent per annum over the last three years.
 
Goldman Sachs has advised Unilever on this transaction.
 
Brands being sold by Unilever include:
Brand               Country               CategorY
 
 
Batchelors         United Kingdom          Instant dry soup; noodles; canned
                                           vegetables
Oxo                UK and Ireland          Bouillon
Royco              France                  Instant dry soup
Lesieur            France                  Mayonnaise and dressings
Royco              Belgium                 Instant dry soup
Liebig/Liebox      Belgium                 Bouillon
Heisse Tasse       Germany                 Instant dry soup
McDonnells         Ireland                 Dry soup and sauces
Bla Band           Sweden, Finland, Denmark Instant dry soup; regular dry
                                            sauces; regular dry soup
Isomitta           Finland                 Regular dry sauces; regular dry
                                           soups     
Raguletto          Germany                 Wet pasta sauce
Rijke Sauzen       Netherlands             Wet sauce
______________________________________________________________________________

 
Safe Harbor Statement:
This press release contains certain 'forward-looking' statements. These
statements are based on management's current expectations and are naturally
subject to uncertainty and changes in circumstances. Actual results may vary
materially from the expectations contained herein.
 

 
January 29 2001