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.
Unilever is the largest maker of laundry products in Britain and many developing markets, including India and Brazil, but is dwarfed by Procter & Gamble in the United States. The group is to keep its European laundry brands, which include Persil, Surf and Comfort.
The bulk of the selling programme has been completed with this deal. The asset sale has brought in just over $3.6bn.
The Anglo-Dutch consumer goods giant has also sold its Bertolli olive oil and vinegar business to Spain's Grupo SOS for £500m. Other disposals include Boursin, the French cheese group, bought by Le Groupe Bel for €400m in November and in the same month its marinades businesses Lawry's and Adolph's sold to McCormick & Company for €410m.
