A Taste of Wellness for Savoury and Snacks
Givaudan
Anglo-Dutch consumer products group Unilever said on Friday that it would sell its Netherlands-based edible oils unit Loders Croklaan group to Malaysia's IOI Corporation Brrhad for €217 million in cash, just a few months after putting it up for sale.
Negotiations were advanced enough to start procedures with the trade unions, Unilever said in a statement.
Loders Croklaan, which produces speciality and nutritional lipids (oils and fats) for the food and health industry, had sales of €267 million last year. The company has factories in Wormerveer, near Amsterdam, and in Channahon, near Chicago, with smaller plants in Toronto and Cairo and sales offices in a further seven countries. The business employs some 600 people and in 2001 had sales of € 265 million.
Unilever announced the sale of Loders in May this year as part of its 'Path to Growth' strategy, a drive to focus on core activities and to boost sales growth to 5.8 per cent and margins to 16-17 per cent by 2004.