Unilever has played down suggestions that today’s (21 July) deal to sell its Bertolli olive oil business signals a plan to completely withdraw from the category.
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The company’s deal with Spanish food firm Grupo SOS follows the sale of Turkish olive oil brand Komili earlier this month.
The moves leave Unilever with olive oil businesses in Portugal and Greece but a spokesman for the consumer goods giant said the company had no immediate plans to also offload those operations.
“You cannot extrapolate from Bertolli and say that’s the end for olive oil in other countries,” the spokesman told just-food. “It’s horses for courses. Brands play different roles in national portfolios.”
The spokesman did concede, however, that olive oil is more of a commodity product compared to the rest of Unilever’s food portfolio.
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By GlobalData“If you look at the bulk of our portfolio, it’s all about premium goods. Olive oil is olive oil is olive oil. There’s not a great deal of added-value that one can build into it.”
Unilever’s EUR630m (US$1bn) deal with Grupo SOS, which also owns the Carbonell olive oil brand, will see the Spaniards take on the Bertolli brand in olive oil and vinegar, as well olive oil and seed oil assets in Italy.
Unilever will hang on to the Bertolli brand in all other categories, including margarine, pasta sauces and frozen meals.
The sale of the olive oil business is part of Unilever’s plans to offload “non-strategic” brands worth over EUR2bn and which has seen the sale of Boursin cheese and US spice business Lawry’s in recent months.
The Unilever spokesman refused to be drawn on any further disposals from the company’s food business but said it is “always looking” at its portfolio to see where acquisitions or sales could be made.
