20.07.2010

Unilever’s Findus Italy goes to Birds Eye Iglo

Anglo-Dutch consumer goods giant Unilever yesterday confirmed the sale of its Findus Italy business to frozen-foods group Birds Eye Iglo in a deal worth EUR805 million (A$1.2 billion).

Unilever said it had sold Findus Italy “to a company in which Birds Eye Iglo has a significant stake” three months after it had put the business on the block.

James Hill, chairman of Unilever’s Italian business, said: “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.”

Hill added: “With this deal Unilever is now in a stronger position to focus on its core categories outside frozen foods and to achieve long-term growth in the Italian market.”

Unilever said Findus Italy, which sells brands including 4 Salti in Padella, Sofficini and Captain Findus, generated EUR462m in sales in 2009.

The deal remains subject to regulatory clearance from the EU.


Related News


no news in this list.

no news in this list.