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.
- On the money: Hormel still looking for M&A
- Consuming issues: The hunger-obesity paradox
- BRICs and beyond: Fonterra, Beingmate partnership
- On the money: Mengniu hones in on "star" brands
- just-food interview: Agropur CEO Robert Coallier
- Fonterra, Beingmate launch infant formula JV
- Mondelez eyes snacks categories in India
- Parmalat nears Lacteos Brasil acquisition
- UK firm Pasta Reale enters administration
- Italy yoghurt woes lead to Emmi profit warning