Unilever to Sell Lawry's and Adolph's Brands

As part of Unilever’s plans to dispose of non-strategic brands, the company signs a definitive agreement with McCormick & Company Incorporated to sell its Lawry’s and Adolph’s branded seasoning blends and marinades business in the United States and Canada for $605 million in cash. The transaction, which is subject to regulatory approval, is expected to close in 2008. The Lawry’s and Adolph’s brands generated approximately $150 million in combined revenue for Unilever in 2006. “This transaction takes us a step forward as we continue to reshape our portfolio in North America by sharpening our focus on building strong brands with global reach,” says Michael B. Polk, president, Unilever Americas. Under the terms of the transaction, the company’s manufacturing facility in Independence, Mo., is remaining with Unilever, since it produces other Unilever products. No Unilever employees will be transferred with the business.