Unilever to sell Brazilian tomato products business

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Anglo-Dutch food and cosmetics giant Unilever said Friday it would sell its tomato products business in Brazil to US-based Cargill for 600 million reals (260 million euros, 350 million dollars).

"Unilever today announced that it has entered into a definitive agreement to sell its consumer tomato products business in Brazil to Cargill," the company said in a statement.

"The sale includes the consumer tomatoes business including the Pomarola, Tarantella, Elefante, Extratomato, and Pomodoro brands, and a manufacturing facility based in Goiania, Brazil (Goias State) and related manufacturing assets."

Unilever said the transaction was in line with its strategy "of strengthening our portfolio by building strong categories with global reach".

© 2010 AFP

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