Unilever has announced that it will license out the vinegar and olive oil production of its Bertolli brand to the Spanish Grupo SOS in a proposed €630 million (£500 million) transaction.
Other Bertolli products like margarine, frozen meals and pasta sauces will continue to be produced by Unilever. The sale includes Maya, Dante and San Giorgio olive oils along with the factory in Italy where they are made.
Unilever’s president for foods, home and personal care, Vindi Banga, said: “Bertolli is a brand leader in olive oils in Europe, the US and Australia, and we believe that Grupo SOS, with their deep expertise in this category, will further strengthen the business. We look forward to working with Grupo SOS to continue to build the Bertolli brand and create further value.”
The move is part of Unilever’s initiative to drop a range of non-strategic brands which collectively have a turnover of over £2 billion. It follows the announcement earlier this month that another olive oil brand, the Turkish based Komili, will be sold to a subsidiary of the Anadolu Group.