Unilever to sell its consumer tomato products business in Brazil
São Paulo, Brazil - Unilever today announced that it has entered into a definitive agreement to sell its consumer tomato products business in Brazil to Cargill for approximately R$600 million (around EUR 260 million).
The sale includes the consumer tomatoes business including the Pomarola, Tarantella, Elefante, Extratomato, and Pomodoro brands, and a manufacturing facility based in Goiania, Brazil (Goias State) and related manufacturing assets.
"This transaction is in line with our overall strategy of strengthening our portfolio by building strong divisions with global reach," said Kees Kruythoff, President, Unilever Brazil. "This also provides us with an opportunity to further enhance our strong relationship with a leading supplier in Cargill and continue both companies' productive relationship with the Brazilian retail and wholesale markets."
Unilever will continue to market and sell tomato products to the Food Service channel. Cargill will manufacture these products on behalf of Unilever under a co-packaging agreement.
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