03/11/03
Unilever agrees sale of Ambrosia to Premier Foods
Rotterdam, 3 November.- Unilever has agreed to sell its Ambrosia and
Brown & Polson businesses to Premier Foods for an undisclosed sum.
Completion is expected at the end of November following consultation
with employees.
Ambrosia, a business within Unilever Bestfoods UK, produces and
markets a range of milk-based ambient desserts including ready-to-use
custard, milk puddings and creamed rice puddings. It employs some 200
people at its Lifton, Devon site.
Brown & Polson is a long established brand relating to cornflour and,
within foodservice channels, ambient dessert products.
The businesses together have annual sales of approximately £60 million
(EUR 87 million approx).
Within the context of Unilever's global Path to Growth strategy,
UBF-UK is focussing on a core portfolio of brands. It therefore
believes that Ambrosia's and Brown & Polson's best interests are
served through their transfer to a new parent company better placed to
develop the businesses' true potential.
Premier Foods, a portfolio company of Hicks, Muse, Tate & Furst, is a
leading player in the UK ambient foods market with brands including
Loyd Grossman, Crosse & Blackwell, Branston Pickle, Sarsons Vinegar,
Sun-Pat peanut butter, Hartley's and Typhoo tea.
Unilever NV