Unilever has struck a deal to sell its Mazola cooking oil brand in Germany, Austria and Switzerland to German food group Peter Kölln KGaA.
The sale, agreed for an undisclosed sum, is expected to be finalised next month.
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By GlobalDataThe transaction is the latest move from Unilever to trim and improve the focus of its low-growth food portfolio.
“Mazola is a high-quality brand which I am confident will do well under Peter Kölln KGaA’s experienced management. Unilever’s decision to divest the Mazola brand … is in line with our global strategy to sharpen our focus within our foods portfolio,” Ulli Gritzuhn, executive vice president of Unilever’s operations in Germany, Austria and Switzerland, said.
Peter Kölln KGaA already has a stable of edible oils and fats and the company has in the past acquired brands in the category from Unilever. MD Prof. Driftmann said: “Kölln will endeavour to support and develop the brand in the future in line with the successful strategy adopted in operating earlier edible oils acquisitions from Unilever including Livio, Biskin and Palmin.”
Unilever attained the Mazola brand worldwide when it acquired Bestfoods in 2000 but soon sold off the rights to the brand in a number of markets. Two years later, it sold the North American rights to the brand to Associated British Foods. In 2004, ABF acquired the Mexican rights to Mazola.
The following year, UK food group Princes acquired the rights to the brand in the UK and Ireland.
