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Unilever cooks up a deal to sell ownership of its Ragu and Bertolli pasta sauce businesses to Japanese condiments maker Mizkan Group for $2.15 billion. Mizkan will obtain two factories in Kentucky and a tomato processing plant in California. The acquisition expands Mizkan's product portfolio, which includes rice vinegar as a large focus. Unilever calls the sale one of the final steps in restructuring its business in North America as it focuses more on beauty and health products. According to Unilever, the Ragu and Bertolli business leads the pasta sauce category in the U.S. with combined annual sales of $600 million. Unilever says the deal will close in June.
Unilever today announced that it has signed an agreement for the sale of its North America pasta sauces business under the Ragu and Bertolli brands to Mizkan Group for a total cash consideration of approximately $2.
Unilever (UN) is reportedly in advanced talks to sell its Ragu pasta sauce business to Japanese condiments maker Mizkan Group for over $2 billion
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