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Unilever Sells Oil Business; Acquires Soap Business
Posted: December 4, 2008
Unilever has completed the sale of its edible oil business in Côte d'Ivoire, along with its interests in local oil palm plantations, while acquiring the soap business of Cosmivoire, an Ivorian producer with a market presence throughout Francophone West Africa. According to the company, the acquisition strengthens Unilever's consumer business position both in the sub-region and in Côte d'Ivoire.
"This deal is absolutely in line with Unilever's strategy," said Diego Bevilacqua, group vice president for Africa, the Middle East and Turkey, Unilever. "It will allow us to focus our future efforts and investments in Francophone West Africa on two of Unilever's core categories, skin cleansing and laundry. At the same time, we are pleased to have been able to bring together partners for whom the palm plantations and oils business constitute the core of their business, and will bring value to those categories in Cote d'Ivoire."