Unilever Sells Pasta Brand in the Philippines
January 17
12:09
2014
Unilever has agreed to sell its Royal pasta brand in the Philippines to RFM Corporation, one of the biggest diversified food and beverage companies in the Philippines, for US$47.8 million.
Rohit Jawa, chairman and chief executive of Unilever Philippines, says: “Royal pasta is a high quality brand which I am confident will do well under RFM’s experienced management. We continually review our portfolio of brands and Unilever’s decision to divest the Royal brand is in line with our global strategy to focus on our core businesses.”
The transaction does not include any of Unilever’s facilities or employees in the Philippines.
