PHILIPPINES: Unilever offloads Royal pasta to RFM
Unilever has sold its Royal Pasta brand in the Philippines
Unilever has announced it is to sell its Royal pasta brand in the Philippines to local food and drink group RFM Corp. for US$47.8m.
The transaction does not include any of Unilever's facilities or employees in the Philippines. Royal will join an RFM portfolio that already includes Fiesta pasta.
Rohit Jawa, chairman and CEO of Unilever Philippines, said he is confident the "high quality brand" will do well under RFM's management.
"We continually review our portfolio of brands and Unilever's decision to divest the Royal brand is in line with our global strategy to focus on our core businesses," Jawa said.
RFM's food business also includes an ice cream venture with Unilever through which the Philippines company supplies products under the Selecta brand.
- Deal or no deal: Frozen sale makes sense for Kerry
- On the money: How Greencore is outperforming
- JBS sees big opportunity from Primo Smallgoods
- Regional start-ups aim to ride China's online boom
- Digesting digital: Collaboration key
- Kerry puts frozen food unit on block - reports
- Coca-Cola eyes long-term rewards with dairy push
- Danone, General Mills, Chobani "mislead parents"
- Post issues warning over US cereal sector sales
- UPDATE: Greencore eyes US$1bn US business