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Article: Italy: Sos to Purchase Bertolli Oil Brands for EU630 Million (USD1Bn).(Company overview)
- Article from:
- TendersInfo
- Article date:
- July 23, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: pinto03
Sos Cuetara SA, the largest olive- oil bottler, agreed to buy Unilever oil brands including market leaders Bertolli and Dante for 630 million euros ($1 billion).
Sos, based in Madrid, gains labels with about one-third of sales in the Americas as Chairman Jesus Salazar tries to reduce dependence on Europe. Unilever is selling assets to speed up sales growth and narrow the gap with Procter & Gamble Co.
Bertolli, founded in Tuscany, Italy in 1865, is the world's biggest olive-oil brand, followed by Dante and Sos Cuetara's Sasso, according to London- and Rotterdam-based Unilever. The acquired assets generated 380 million ...