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UL Unilever PLC

52.075
-0.055 (-0.11%)
Last Updated: 20:15:50
Delayed by 15 minutes
Name Symbol Market Type
Unilever PLC NYSE:UL NYSE Depository Receipt
  Price Change % Change Price High Price Low Price Open Price Traded Last Trade
  -0.055 -0.11% 52.075 52.27 51.90 52.20 1,776,528 20:15:50

RFM Buys Royal Pasta Brand From Unilever For $47.8 Million

16/01/2014 3:54am

Dow Jones News


Unilever (NYSE:UL)
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  By Cris Larano 
 

MANILA--Philippine food-and-beverage company RFM Corp. (RFM.PH) has agreed to pay $47.8 million for Unilever's Royal brand pasta business, RFM said on Thursday.

The acquisition will solidify its position in the Philippine pasta market, RFM said in a statement. RFM's Fiesta is the country's top pasta brand while Royal is No. 2.

The 58-year-old Royal brand is expected to boost revenue and make up revenue lost after the sale of Swift Foods Inc (SFI.PH) in 2012.

RFM raised around $36.4 million in a rights offering in October to pay for expansion.

RFM and Unilever have an existing ice-cream joint venture.

Write to Cris Larano at cris.larano@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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