Lesieur buys Puget olive oil from Unilever

13th September 2004, Comments 0 comments

PARIS, Sept 13 (AFP) - Lesieur, the leading French maker of vegetable oils, said Monday it would buy Puget, a French subsidiary of Anglo-Dutch group Unilever and maker of France's top-selling olive oil brand.

PARIS, Sept 13 (AFP) -  Lesieur, the leading French maker of vegetable oils, said Monday it would buy Puget, a French subsidiary of Anglo-Dutch group Unilever and maker of France's top-selling olive oil brand.  

"This acquisition comes within the strategic development logic for Lesieur's olive oils, which already account for 11 percent of annual sales – EUR 518 million (USD 634 million)," human resources director France Ribadeau-Dumas told AFP.  

Olive oil consumption in France has quadrupled in the past 20 years to 100,000 tonnes, while French production currently accounts for less than five percent of demand.   Lesieur did not disclose financial terms of the acquisition.  

Puget, which has annual sales of about EUR 115 million and an industrial site in France, employs 40 people who will be hired by Lesieur, Lesieur executives said.  

The announcement by the maker of mayonnaise, salad dressings and cooking oils confirmed a report in the French business daily La Tribune.

© AFP

Subject: French News

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