Memphis, Tenn.-based ACH Food Companies, a subsidiary of London-based Associated British Foods, has announced the completion of its US$360m purchase of the Mazola branded cooking oil and corn products business of Anglo-Dutch giant Unilever.
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Through the transaction, ACH has acquired 19 leading consumer brands and their related assets, including Mazola cooking oil; Argo and Kingsford’s corn starch; and Karo and Golden Griddle syrups, in the US, Canada and Puerto Rico.
The acquisition strengthens ACH’s position as a leading US player in vegetable oils. “We are continuing to implement our strategy of establishing leading branded positions in each of our food channels,” ACH CEO Dan Antonelli said. “This acquisition gives us a platform to expand into retail branded products in our key product categories.”
In April 2002, Unilever signed the definitive agreement to sell the brands in April this year, and will continue to assist ACH in day-to-day operations under a transitional services agreement for up to six months.
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