Unilever agrees sale of Ambrosia to Premier Foods
Unilever has agreed to sell its Ambrosia and Brown & Polson businesses to Premier Foods for an undisclosed sum. Completion is expected at the end of November following consultation with employees.
Ambrosia, a business within Unilever Bestfoods UK, produces and markets a range of milk-based ambient desserts including ready-to-use custard, milk puddings and creamed rice puddings. It employs some 200 people at its Lifton, Devon site.
Brown & Polson is a long established brand relating to cornflour and, within foodservice channels, ambient dessert products.
The businesses together have annual sales of approximately £60 million (€87 million approx). Within the context of Unilever’s global Path to Growth strategy, UBF-UK is focussing on a core portfolio of brands. It therefore believes that Ambrosia’s and Brown & Polson’s best interests are served through their transfer to a new parent company better placed to develop the businesses’ true potential.
Premier Foods, a portfolio company of Hicks, Muse, Tate & Furst, is a leading player in the UK ambient foods market with brands including Loyd Grossman, Crosse & Blackwell, Branston Pickle, Sarsons Vinegar, Sun-Pat peanut butter, Hartley's and Typhoo tea.