Unilever sells its latest stake in Bertolli to EnricoGlasbest
The deal ended for an undisclosed sum
Unilever sold its remaining stake in Bertolli to Dutch food group EnricoGlasbest, which will become the new owner of the business, including the rights to pasta, sauces and pesto in Europe. The deal, concluded for an undisclosed sum, also includes worldwide rights to products such as mayonnaise sold under the Bertolli brand. In 2008, Unilever carried out the sale of the Bertolli olive oil production to the Spanish company Deoleo. Six years later, the Japanese Mizkan Group acquired the US rights to the Bertolli brand. In 2017, Upfield, based in the Netherlands, acquired a fringe business of Bertolli, as part of the larger acquisition of the spread arm of the giant FMCG.
A Unilever spokesperson said: "It was natural for Unilever to sell the remainder of the Bertolli brand. EnricoGlasbest's portfolio of Mediterranean delicacies offers stronger synergies and great expansion potential for the brand. Unilever will continue to partner with Bertolli retail customers and suppliers on a regular basis with a six-month transition service as agreed". EnricoGlasbest is a Mediterranean nature food producer and distributor, offering branded and private label products including olives, pesto, sauces and mayonnaise. Robin Heetkamp , managing director of EnricoGlasbest, said: "As a brand, Bertolli fits perfectly with our strategies and ambitions. The company has experienced significant growth in recent years and is ready for this step forward. entrepreneurship is present on several levels in the organization and the infrastructure is ready to grow further". The agreement brings EnricoGlasbest's turnover to around 50 million euros, as stated by the Dutch group.
EFA News - European Food Agency