Unilever agrees to sell Shedd’s Country Crock® chilled side-dish business
Unilever announced that it has signed a definitive agreement with Hormel Foods Corporation to sell its US Shedd’s Country Crock® branded chilled side-dish business.
Englewood Cliffs, NJ – January 18, 2010– Unilever today announced that it has signed a definitive agreement with Hormel Foods Corporation to sell its Shedd’s Country Crock®branded chilled side-dish business in the US. The transaction is expected to close by February 2010. Financial terms are not being disclosed and ownership of the Shedd’s Country Crock trademark and its flagship spreads product range remain with Unilever.
The Shedd’s Country Crock chilled side-dish business generated approximately $50 million (EUR 35 million) in revenue for Unilever in 2009.
“This transaction is consistent with our efforts to reshape our portfolio in North America by sharpening our focus on building strong categories with global reach,” said Michael B. Polk, President, Unilever Americas.
Under the terms of the transaction, Hormel will market and sell Shedd’s Country Crock chilled side-dish products, such as home style mashed potatoes, under a license agreement. No Unilever employees will be transferred with the business.
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For further information, please contact:
Anita Larsen or Dean Mastrojohn, Unilever US Media Relations, 201-894-7760,
Unilever London office: Trevor Gorin + 44 207 822 6010
Unilever Rotterdam office: Flip Dotsch +31 10 2173715
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