Unilever Agrees to Sell Global Skippy Business to Hormel Foods

  Unilever Agrees to Sell Global Skippy Business to Hormel Foods

Business Wire

ENGLEWOOD CLIFFS, N.J. -- January 3, 2013

Unilever today announced that it has signed a definitive agreement for the
sale of its global Skippy business to Hormel Foods for a total cash
consideration of approximately $700 million.

The transaction includes Unilever’s Skippy manufacturing facilities in Little
Rock, Ark., and Weifang, China (located in the Shandong province).

Kees Kruythoff, president of Unilever North America, said: “Skippy is an
iconic brand with presence all around the world. As we continue to sharpen our
portfolio to deliver sustainable growth for Unilever, we believe that the
potential of the Skippy brand can now be more fully realized with Hormel
Foods.”

Skippy’s annual turnover is approximately $370 million. The transaction,
subject to regulatory approval and customary closing conditions, is expected
to close early in 2013.

SAFE HARBOUR:

This announcement may contain forward-looking statements, including
'forward-looking statements' within the meaning of the United States Private
Securities Litigation Reform Act of 1995. Words such as 'will', 'aim',
'expects', 'anticipates', 'intends', 'believes', 'vision', or the negative of
these terms and other similar expressions of future performance or results,
and their negatives, are intended to identify such forward-looking statements.
These forward-looking statements are based upon current expectations and
assumptions regarding anticipated developments and other factors affecting the
Group. They are not historical facts, nor are they guarantees of future
performance.

Because these forward-looking statements involve risks and uncertainties,
there are important factors that could cause actual results to differ
materially from those expressed or implied by these forward-looking
statements. Among other risks and uncertainties, the material or principal
factors which could cause actual results to differ materially are; Unilever's
global brands not meeting consumer preferences; increasing competitive
pressures; Unilever's investment choices in its portfolio management; finding
sustainable solutions to support long-term growth; customer relationships; the
recruitment and retention of talented employees; disruptions in our supply
chain; the cost of raw materials and commodities; secure and reliable IT
infrastructure; successful execution of acquisitions, divestitures and
business transformation projects; economic and political risks and national
disasters; the sovereign debt crisis in Europe; financial risks; and failure
to meet high product safety and ethical standards; managing regulatory, tax
and legal matters. Further details of potential risks and uncertainties
affecting the Group are described in the Group's filings with the London Stock
Exchange, Euronext Amsterdam and the US Securities and Exchange Commission,
including the Group's Annual Report on Form 20-F for the year ended 31
December 2011 and the Annual Report and Accounts 2011. These forward-looking
statements speak only as of the date of this announcement. Except as required
by any applicable law or regulation, the Group expressly disclaims any
obligation or undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change in the
Group's expectations with regard thereto or any change in events, conditions
or circumstances on which any such statement is based.

About Unilever:

Unilever is one of the world’s leading suppliers of Food, Home and Personal
Care products with sales in over 190 countries. Our products are present in 7
out of 10 homes globally and are used by over 2 billion people on a daily
basis. We work with 171,000 colleagues around the world and we are on track to
generate annual sales of over €50 billion in 2012.Over half of our company’s
footprint is in the faster growing developing and emerging markets (56% in
2011). Working to create a better future every day, we help people feel good,
look good and get more out of life. Our portfolio includes some of the world’s
best known brands such as Knorr, Persil / Omo, Dove, Sunsilk, Hellmann’s,
Lipton, Rexona / Sure, Wall’s, Lux, Rama, Ponds and Axe.

Our ambition is to double the size of our business, whilst reducing our
overall environmental footprint (including sourcing, consumer use and
disposal) and increasing our positive social impact. We are committed to
helping more than a billion people take action to improve their health and
well-being, sourcing all our agricultural raw materials sustainably by 2020,
and decoupling our growth from our environmental impact. Supporting our three
big goals are more than 50 time-based targets. See more on the Unilever
Sustainable Living Plan at www.unilever.com/sustainable-living/.

Unilever has been recognised in the Dow Jones Sustainability World Indexes for
14 consecutive years. We are included in the FTSE4Good Index Series and
attained a top environmental score of 5, leading to inclusion in the FTSE4Good
Environmental Leaders Europe 40 Index. In 2011 Unilever led the Climate Counts
Company Scorecard and for the second year topped the list of Global Corporate
Sustainability Leaders in the GlobeScan /SustainAbility latest annual survey
(2012). The company is an employer of choice in many of the countries in which
it operates and is seen as a symbol for innovation and leadership development.

For more information about Unilever and its brands, please visit
www.unilever.com.

About Hormel Foods:

Hormel Foods Corporation, based in Austin, Minn., is a multinational
manufacturer and marketer of consumer-branded food and meat products, many of
which are among the best known and trusted in the food industry. The company
leverages its extensive expertise, innovation and high competencies in pork
and turkey processing and marketing to bring branded, value-added products to
the global marketplace. The company is a member of the Standard & Poor's (S&P)
500 Index, S&P Dividend Aristocrats for 2012, Maplecroft Climate Innovation
Indexes, Global 1000 Sustainable Performance Leaders and was again named one
of "The 100 Best Corporate Citizens” by Corporate Responsibility Magazine for
the fourth year in a row. The company enjoys a strong reputation among
consumers, retail grocers, foodservice and industrial customers for products
highly regarded for quality, taste, nutrition, convenience and value. For more
information, visit http://www.hormelfoods.com.

Contact:

Media:
Unilever North America (Englewood Cliffs, NJ)
Jeff Graubard or Anita Larsen, +1-201-894-7760
MediaRelations.USA@unilever.com
or
Unilever PLC (London)
Trevor Gorin, +44 207 822 6010
Press-Office.London@unilever.com
or
Unilever NV (Rotterdam)
Flip Dötsch, +31 (0) 10 2174844
mediarelations.rotterdam@unilever.com
 
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