Navigate this market better. Subscribe for FREE stock alerts and information.

Thursday, July 10, 2014

Unilever sells Slim-Fast brand to U.S. private equity firm, (NYSE: UL)

Consumer goods maker Unilever Plc said it had sold its Slim-Fast brand to Kainos Capital, a U.S.-based private equity firm focused on the food and consumer sector.The sale is part of Unilever's ongoing effort to reshape its U.S. portfolio and focus on its core higher-margin personal care business, the company said.The Anglo-Dutch maker of Ben & Jerry's ice cream, Dove soap and Lipton tea said it would retain a minority stake in the Slim-Fast business, which sells dietary food products, including snack bars and protein meal shakes.Unilever did not disclose financial terms of the deal, which closed on Thursday. The deal includes the Slim-Fast trademark and global Slim-Fast business portfolio.

Unilever PLC (PLC) is a supplier of fast moving consumer goods. Shares of UL fell by 1.19% or $-0.54/share to $44.72. In the past year, the shares have traded as low as $37.40 and as high as $45.99. On average, 1069140 shares of UL exchange hands on a given day and today's volume is recorded at 998191.