Unilever on Aug. 12 announced it had an agreement to sell its Wish-Bone and Western dressings brands to Pinnacle Foods Inc. for approximately $580 million cash. The transaction does not include Unilever’s facility in Independence, Mo., where Wish-Bone and Western brands are currently produced, but the factory will continue to manufacture for Pinnacle Foods under a third-party agreement.
The seller claims Wish-Bone is the No. 1 Italian dressings brand in the U.S. Annual sales for Wish-Bone and Western are approximately $190 million.
The transaction, subject to regulatory approval and customary closing conditions, is expected to close late in the third quarter or early fourth quarter of this year.