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.