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Unilever has sold its American laundry business
30/07/2008
Unilever has sold its North American laundry business to the private equity firm, Vestar Capital Partners, for £730m.This is the latest move in Unilever's asset fire sale and also its second major deal in a week.This is the largest disposal since announcing in August last year the group was to sell off non-core businesses with a combined annual turnover of €2bn.Vestar plan to merge Unilever's laundry business, which has brands including Wisk, Surf, Snuggle and Sunlight, with its existing Huish Detergents subsidiary to create a company called The Sun Products Corporation.
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