Unilever Divests Royal Pasta To RFM


News: Anglo-Dutch consumer goods firm Unilever has announced the divestment of its Royal pasta brand in the Philippines to local food and beverage company RFM for US$47.8mn. Royal will join the RFM portfolio that already incorporates Fiesta pasta, while it would not include any of the Unilever's units or employees in the Philippines. The deal is expected to boost the company's pasta segment, according to chairman and CEO of Unilever Philippines Rohit Jawa. The divestment of Royal brand comes as part of the company's global strategy to focus on its core businesses, Jawa added.

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Related sectors of this article: Food & Drink, Food
Geography: Philippines