FDBusiness.com

Unilever Sells South African Spreads Business

 Breaking News
  • Nestlé to Sell US Confectionery Business to Ferrero Nestlé has agreed to sell its US confectionery business to Ferrero, the third-largest company in the global chocolate confectionery market, for SFr2.8 billion ($2.8 billion) in cash. Nestlé’s 2016 US confectionery sales reached about SFr900 million. The transaction is expected to close around the end of the first quarter of 2018 following the completion of [...]...
  • Asahi Super Dry Re-launching in the UK Asahi UK, the UK subsidiary of Asahi Europe, is boosting its strong portfolio of beer brands by re-launching Asahi Super Dry in Britain in its authentic form. For the first time in Europe, full access to the exact Japanese brewing standards have been given to Asahi Europe and these innovations will bring the authentic taste [...]...
  • Natural Preservatives Extend Frying Oil Shelf Life Arjuna Naturals Extracts has launched its natural preservative formulation for combating oxidation, thermal degradation, hydrolytic rancidity and extending the frying cycle of vegetable oils. The new, all-natural preservative formulation contains a few simple ingredients and enables a clean label. It is GMO-free, oil-soluble and vegan. Initial response was so strong, Arjuna Natural Ltd. decided to [...]...
  • Alison Unveils New UK-made Bread Basket Dolly Alison Handling Services (AHS), Europe’s largest stockist of plastic containers and boxes, has introduced a new bread basket dolly designed for standard (762 x 508 x 216mm) 12-loaf stack nests. Capable of holding up to eight nests and available in grey or purple (to match Alison’s distinctive trays and baskets), the dolly has been designed [...]...
  • Irish Supermarkets Benefit From the Christmas Spirit The latest grocery market share figures from Kantar Worldpanel in Ireland, for the 12 weeks ending 31 December 2017, reveal that shoppers spent an extra €90 million on groceries over the festive period. David Berry, director at Kantar Worldpanel, comments: “Over the Christmas period the average household spent a record €1,532 on groceries – an increase of [...]...

Unilever Sells South African Spreads Business

Unilever Sells South African Spreads Business
September 28
10:08 2017

Unilever is acquiring Remgro’s 25.75% shareholding in Unilever South Africa Holdings in exchange for the Unilever Spreads business in Southern Africa as well as a cash consideration of ZAR4.9 billion (€312 million), representing a transaction value of ZAR11.9 billion. The deal values the Spreads business at ZAR7.0 billion, representing a 13.4 multiple of 2016 EBITDA.

Unilever Spreads business in South Africa, Botswana, Lesotho, Namibia and Swaziland has incorporates a portfolio of leading brands which include Rama, Stork, Flora and Rondo. Luc-Olivier Marquet, Executive Vice President of Unilever SA, says: “Unilever South Africa is a great business, well positioned for sustainable long-term growth. By giving us full ownership of the business, this transaction means we are better placed to accelerate that growth while the Spreads business moves on to Remgro where it augments their current portfolio and can be sure of a great future.”

The transaction is subject to customary regulatory approvals.

Meanwhile, Unilever has agreed to acquire Carver Korea, a leading skincare business in North Asia, for €2.27 billion, from Bain Capital Private Equity and Goldman Sachs. The deal will strengthen Unilever’s personal care portfolio and geographical reach.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • January 16, 2018Sival Plant Production Trade Show
  • January 17, 2018Anfas Food Product
  • January 17, 2018Dutch Organic Trade Fair
  • January 19, 2018International Green Week
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements