Unilever divests Ragu, Bertolli pasta sauce businesses in $2.15bn deal
Unilever has completed the sale of its pasta sauces business under the Ragu and Bertolli brands to M…Unilever has
completed the sale of its pasta sauces business under the Ragu and Bertolli brands to Mizkan Group for a total cash consideration of about $2.15bn.The sale includes two production facilities including a sauce processing and packaging plant in Owensboro, Kentucky, as well as a tomato processing facility in Stockton, California.
The annual turnover for the company's North America pasta sauce businesses is more than $600m.
On 22 May 2014, Unilever and Mizkan Group signed an announced the agreement for the transaction.
At the time, commenting on the deal, Unilever North America president Kees Kruythoff said this sale represents one of the final steps in reshaping the company's portfolio in North America to deliver sustainable growth for Unilever, and enables the company to sharpen its focus within the foods business.
