Thu, 30 Sep 2010 | DIVISION SALE
Unilever is looking to sell some of its most famous food sauce brands - including Chicken Tonight and Ragu - after declaring that it has seen little growth in the brands in the UK and that neither are among the top 10 best sellers.
The company is hoping that the sale will generate as much as £40 million and that the money can be put to use in its efforts to develop its personal care brands. These include the recently purchased TRESemmé and VO5 shampoos.
It is believed the Anglo-Dutch conglomerate is seeking to part only with the brands, and to keep its UK staff and manufacturing plant, where other foods it owns are also made.
One observer said the sale could offer a company the chance to reinvent a brand that, while well-established, has grown somewhat stale and dated and has seen a significant decline in market share.
The observer said, "It’s a commentary on the UK market. It’s been a declining business: it’s a pretty pedestrian brand, whereas in the US [Ragu] probably still has some resonance.”
A spokesman for Unilever explained that thorough exploration and consultation was currently underway on the brands. “We are assessing strategic options for Chicken Tonight and Ragu in the UK and Ireland," he said. "We regularly evaluate the performance of our brands in the market place and we will consider all options when reviewing their future."
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