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Cargill Acquires Unilever’s Shelf-Stable Tomato Sauce and Paste Business in Brazil

September 24, 2010

SAO PAULO, Sept. 24 /PRNewswire/ — Cargill has signed an agreement to acquire Unilever’s tomato products business in Brazil for approximately R$ 600 million. The acquisition brings to Cargill a number of market-leading consumer brands, including Pomarola and Tarantella brand tomato sauce, Elefante and Extratomato brand tomato paste, and Pomodoro brand tomato pulp. Unilever will continue to market tomato products to the food service segment under these brands. The acquisition includes Unilever’s site in Goiania (Goias State) and tomato manufacturing facility. Cargill and Unilever expect to conclude the transaction by the end of the year. The transaction is subject to regulatory approval.

“Acquiring Unilever’s tomato products business exemplifies Cargill’s long-term commitment to growing our business in Brazil by providing a diverse array of products in the food segment,” said Sergio Rial, Cargill senior vice president. “This acquisition furthers our objective of becoming a leading food products company in Brazil, with a focus on shelf-stable consumer staple products. Delivering a wider range of products to retailers enables Cargill to improve the point-of-sale service we provide them. In addition, consumers will benefit from Cargill’s commitment to product innovation and quality, and our strong food safety and environmental stewardship practices.”

“This transaction strengthens Cargill’s global partnership with Unilever,” said Marcelo Martins, director, Cargill Foods Brazil, and president, Cargill Agricola S.A. “In addition to Unilever being a large global customer of Cargill’s, our new plant in Goiania will supply Unilever in Brazil with tomato products, and Unilever will continue manufacturing other products on the site adjacent to Cargill’s operations.”

Cargill Foods Brazil serves retailers, manufacturers, and food service operators in Brazil and exports to a number of regional markets. In retail, Cargill Foods Brazil markets bottled and canned cooking oils under the Liza®, Veleiro®, Purilev® and Mazola® brands. Cargill Foods Brazil also produces blended oils under the Olivia® and Maria® brands, and mayonnaise under the Liza®, Maria®, Mariana® and Gourmet® brands. The company is the exclusive distributor of Gallo and La Espanola brand olive oil, Gallo brand olives, and Delverde brand pasta in Brazil. Cargill Foods Brazil operates production sites in Mairinque (Sao Paulo State), Sao Jose do Rio Pardo (Sao Paulo State) and Itumbiara (Goias State).

Cargill is an international producer and marketer of food, agricultural, financial and industrial products and services. Founded in 1865, the privately held company employs 131,000 people in 66 countries. Cargill helps customers succeed through collaboration and innovation, and is committed to applying its global knowledge and experience to help meet economic, environmental and social challenges wherever it does business. For more information, visit www.cargill.com.

SOURCE Cargill


Source: newswire



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