The Mexican arm of Anglo-Dutch consumer products giant Unilever has agreed to sell its edible oils and white fats business to a Mexican subsidiary of Associated British Foods for US$110m in cash.
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Subject to regulatory approval, the transaction is expected to be completed within two months, Unilever said.
As part of the deal ABF will acquire Unilever’s Capullo bottled canola oil brand, the Mazola edible oil brand and the Inca white fat brand. The three brands had sales in Mexico of around $124m in 2003.
ACH Food Companies, a US subsidiary of Associated British Foods, acquired Mazola and other brands in the US and Canada in 2002.
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