Unilever today announced that it has signed a definitive agreement for
the sale of its global Skippy business to Hormel Foods for a total cash
consideration of approximately $700 million.
The transaction includes Unilever’s Skippy manufacturing facilities in
Little Rock, Ark., and Weifang, China (located in the Shandong province).
Kees Kruythoff, president of Unilever North America, said: “Skippy is an
iconic brand with presence all around the world. As we continue to
sharpen our portfolio to deliver sustainable growth for Unilever, we
believe that the potential of the Skippy brand can now be more fully
realized with Hormel Foods.”
Skippy’s annual turnover is approximately $370 million. The transaction,
subject to regulatory approval and customary closing conditions, is
expected to close early in 2013.
SAFE HARBOUR:
This announcement may contain forward-looking statements, including
'forward-looking statements' within the meaning of the United States
Private Securities Litigation Reform Act of 1995. Words such as 'will',
'aim', 'expects', 'anticipates', 'intends', 'believes', 'vision', or the
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performance or results, and their negatives, are intended to identify
such forward-looking statements. These forward-looking statements are
based upon current expectations and assumptions regarding anticipated
developments and other factors affecting the Group. They are not
historical facts, nor are they guarantees of future performance.
Because these forward-looking statements involve risks and
uncertainties, there are important factors that could cause actual
results to differ materially from those expressed or implied by these
forward-looking statements. Among other risks and uncertainties, the
material or principal factors which could cause actual results to differ
materially are; Unilever's global brands not meeting consumer
preferences; increasing competitive pressures; Unilever's investment
choices in its portfolio management; finding sustainable solutions to
support long-term growth; customer relationships; the recruitment and
retention of talented employees; disruptions in our supply chain; the
cost of raw materials and commodities; secure and reliable IT
infrastructure; successful execution of acquisitions, divestitures and
business transformation projects; economic and political risks and
national disasters; the sovereign debt crisis in Europe; financial
risks; and failure to meet high product safety and ethical standards;
managing regulatory, tax and legal matters. Further details of potential
risks and uncertainties affecting the Group are described in the Group's
filings with the London Stock Exchange, Euronext Amsterdam and the US
Securities and Exchange Commission, including the Group's Annual Report
on Form 20-F for the year ended 31 December 2011 and the Annual Report
and Accounts 2011. These forward-looking statements speak only as of the
date of this announcement. Except as required by any applicable law or
regulation, the Group expressly disclaims any obligation or undertaking
to release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in the Group's
expectations with regard thereto or any change in events, conditions or
circumstances on which any such statement is based.
About Unilever:
Unilever is one of the world’s leading suppliers of Food, Home and
Personal Care products with sales in over 190 countries. Our products
are present in 7 out of 10 homes globally and are used by over 2 billion
people on a daily basis. We work with 171,000 colleagues around the
world and we are on track to generate annual sales of over €50 billion
in 2012. Over half of our company’s footprint is in the faster growing
developing and emerging markets (56% in 2011). Working to create a
better future every day, we help people feel good, look good and get
more out of life. Our portfolio includes some of the world’s best known
brands such as Knorr, Persil / Omo, Dove, Sunsilk, Hellmann’s, Lipton,
Rexona / Sure, Wall’s, Lux, Rama, Ponds and Axe.
Our ambition is to double the size of our business, whilst reducing our
overall environmental footprint (including sourcing, consumer use and
disposal) and increasing our positive social impact. We are committed to
helping more than a billion people take action to improve their health
and well-being, sourcing all our agricultural raw materials sustainably
by 2020, and decoupling our growth from our environmental impact.
Supporting our three big goals are more than 50 time-based targets. See
more on the Unilever Sustainable Living Plan at www.unilever.com/sustainable-living/.
Unilever has been recognised in the Dow Jones Sustainability World
Indexes for 14 consecutive years. We are included in the FTSE4Good Index
Series and attained a top environmental score of 5, leading to inclusion
in the FTSE4Good Environmental Leaders Europe 40 Index. In 2011 Unilever
led the Climate Counts Company Scorecard and for the second year topped
the list of Global Corporate Sustainability Leaders in the GlobeScan
/SustainAbility latest annual survey (2012). The company is an employer
of choice in many of the countries in which it operates and is seen as a
symbol for innovation and leadership development.
For more information about Unilever and its brands, please visit www.unilever.com.
About Hormel Foods:
Hormel Foods Corporation, based in Austin, Minn., is a multinational
manufacturer and marketer of consumer-branded food and meat products,
many of which are among the best known and trusted in the food industry.
The company leverages its extensive expertise, innovation and high
competencies in pork and turkey processing and marketing to bring
branded, value-added products to the global marketplace. The company is
a member of the Standard & Poor's (S&P) 500 Index, S&P Dividend
Aristocrats for 2012, Maplecroft Climate Innovation Indexes, Global 1000
Sustainable Performance Leaders and was again named one of "The 100 Best
Corporate Citizens” by Corporate Responsibility Magazine for the fourth
year in a row. The company enjoys a strong reputation among consumers,
retail grocers, foodservice and industrial customers for products highly
regarded for quality, taste, nutrition, convenience and value. For more
information, visit http://www.hormelfoods.com.