Unilever disposes of Ragu and Chicken Tonight
Unilever has agreed to sell its Ragu and Chicken Tonight brands in the UK and Ireland to Symington's for an undisclosed sum.
The company acquired the Knorr-branded sauce products in 2000, following its merger with Bestfoods.
The deal concludes Unilever’s strategic review of the two brands in the UK & Ireland, which began in June 2010, after chief executive Paul Polman decided there was little growth left for the brands in the UK.
Ragu and Chicken Tonight will remain under Unilever's ownership in all the other markets in which they are currently sold.
As part of the deal, Symington’s has entered into a manufacturing agreement which means that both Ragu and Chicken Tonight will be produced at Unilever’s factory in Oss, Netherlands, for at least three years.
A Unilever spokesman said no Unilever employees will transfer to Symington’s as a result of the agreement.
This article was first published on marketingmagazine.co.uk