Finance / United States
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Unilever Sells Laundry Business To Vestar Capital
July 2008 | Top StoriesSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Unilever announced on July 28 that it has agreed to sell its American, Canadian and Puerto Rican laundry businesses to Vestar Capital Partners. Its rights to household brands All, Wisk, Sunlight, Surf and Snuggle will be sold in the deal worth US$1.45bn. The sale, which is expected to be completed in the third or fourth quarter, will be Unilever's twentieth divestment since the start of 2005. Under CEO Patrick Cescau's growth strategy, the company plans to sell businesses that have a combined turnover of more than EUR2bn (US$3.1bn) in a plan to better shape the company's portfolio. Unilever spokesperson Trevor