Unilever has announced that it has signed an agreement to sell its Home Care business in Colombia and Ecuador to Alicorp.
The transaction includes a portfolio of well-established local brands in Colombia and Ecuador, such as Fab, 3D, Aromatel, and Deja.
“These brands have a long-standing heritage and play a meaningful role in the daily lives of consumers across Colombia and Ecuador. While this was a thoughtful decision, it aligns with our ambition to sharpen our portfolio and focus on the categories where we can lead, innovate and grow sustainably," said Reginaldo Ecclissato, President of 1 Unilever Markets at Unilever.
"Alicorp is a respected regional player with strong capabilities in Home Care, and we are confident that under their stewardship, these brands and operations will continue to thrive.”
The transactions are subject to regulatory approvals and customary closing conditions. Financial terms of the agreements are undisclosed.
Leading global law firm Baker McKenzie has been advising its longstanding client, Unilever, on the sale of its home care businesses. In Ecuador, Baker McKenzie partnered with the leading local law firm, CorralRosales.
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