Unilever sells Country Crock line to Hormel
Unilever sells Country Crock line to Hormel
Unilever sells Country Crock line to Hormel
Hormel Foods Corp. said it has agreed to acquire the Country Crock chilled side-dish line from Unilever United States Inc., a subsidiary of Unilever plc.
Terms of the acquisition were not disclosed, but Unilever noted in a separate release that the Country Crock line generated about $50 million in revenue in 2009.
The acquisition is expected to close by February.
Unilever said Hormel will market and sell Country Crock products under a license agreement. No Unilever employees will be transferred with the business.
Unilever is one of the world's biggest consumer-products companies.
Austin, Minn.-based Hormel produces and markets food products. It said the purchase represents a "significant opportunity" to expand in the growing segments of convenient meals and side dishes and complements its existing protein-based refrigerated products.
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