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Unilever to sell Italian frozen foods business Findus for €805 mln

by Sergei Balashov - 19/07/2010

Unilever to sell Italian frozen foods business Findus for €805 mln

"Food manufacturer Unilever (LON:ULVR) gas agreed to sell its Italian frozen foods business Findus for €805 million to a company controlled by Birds Eye Iglo, which will now own the 4 Salti in Padella, Sofficini.

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The Company will now own the 4 Salti in Padella, Sofficini, Capitan Findus and That's Amore brands and a dedicated factory in Cisterna, Italy.

Unilever said that the deal put it in a stronger position to focus on its core categories outside frozen foods and achieve long term growth in Italy.

“Findus is the lynchpin of an attractive and profitable frozen foods business and I am confident that it will prosper under the dedicated resource and focused management that the new owners will bring,” said chairman of Unilever Italy, James Hill.

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More Details: http://www.proactiveinvestors.co.uk/companies/news/19000/unilever-to-sell-italian-frozen-foods-business-findus-for-805-mln-19000.html