Why Unilever (UL) Stock Is Lower This Afternoon

NEW YORK (TheStreet) -- Shares of Unilever (UL) are down -1.22% to $44.71 after the consumer goods company said it sold its Slim-Fast brand to Kainos Capital, a U.S private equity firm, Reuters reports.

The sale is part of Unilever's ongoing effort to reshape its U.S. portfolio and focus on its core higher-margin personal care business, the company said.

The company will retain a minority stake in Slim-Fast's business. Terms of the deal were not disclosed.

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