Cargill has signed an agreement to acquire Unilever's tomato products business in Brazil for approximately R$600 million. The acquisition brings to Cargill a number of market-leading consumer brands, including Pomarola and Tarantella brand tomato sauce, Elefante and Extratomato brand tomato paste, and Pomodoro brand tomato pulp. Unilever will continue to market tomato products to the food service segment under these brands. The acquisition includes Unilever's site in Goiania (Goias State) and tomato manufacturing facility. Cargill and Unilever expect to conclude the transaction by the end of the year. The transaction is subject to regulatory approval.
"Acquiring Unilever's tomato products business exemplifies Cargill's long-term commitment to growing our business in Brazil by providing a diverse array of products in the food segment," said Sergio Rial, Cargill senior vice president. "This acquisition furthers our objective of becoming a leading food products company in Brazil, with a focus on shelf-stable consumer staple products. Delivering a wider range of products to retailers enables Cargill to improve the point-of-sale service we provide them. In addition, consumers will benefit from Cargill's commitment to product innovation and quality, and our strong food safety and environmental stewardship practices."
"This transaction strengthens Cargill's global partnership with Unilever," said Marcelo Martins, director, Cargill Foods Brazil, and president, Cargill Agricola S.A. "In addition to Unilever being a large global customer of Cargill's, our new plant in Goiania will supply Unilever in Brazil with tomato products, and Unilever will continue manufacturing other products on the site adjacent to Cargill's operations."
