- THE MAGAZINE
- FOOD MASTER
Consumer goods company Unilever announced Thursday its intensions to sell its Ragu and Bertolli past sauce brands to Japanese condiment company manufacturer Mizkan Group.
Mizkan will purchase the brands for $2.15 billion. According to Unilever, the annual turnover for both brands is more than $600 million.
The transaction includes a sauce processing and packaging facility in Kentucky, and a tomato processing facility in California.
“The Ragu and Bertolli business leads the pasta sauce category in the United States,” said Kees Kruythoff, president of Unilever North America in a statement
The transaction is subject to approval and is expected to close by the end of June.