Unilever Sells Boursin for EUR400 Million

06/11/07 Unilever has reached an agreement to sell Boursin to Le Groupe Bel for EUR 400 million. The transaction, which is subject to regulatory approval and a consultative process with the relevant employee representatives, is expected to be completed in the next two to three months.

Keesvan der Graaf, President Unilever Europe, said: "Boursin has been a great brand for Unilever with a tremendous product offering and some memorable advertising. Having taken the decision to focus our portfolio on priorities outside the cheese category, I am confident we have found a new owner that will offer further growth and brand development opportunities for Boursin as part of their dedicated and focused cheese business."

"We are delighted with the acquisition of an iconic brand like Boursin, which is a great addition to our very successful cheese portfolio. We are extremely optimistic about our ability to grow both sales and market share," notes Gérard Boivin, CEO of Le Groupe Bel.

Approximately 150 Boursin employees, most of whom work in the factory in Pacy, France, will transfer to Le Groupe Bel as part of the sales agreement. In 2007, Boursin is expected to record sales of some EUR 100 million, of which approximately half in France, with the remainder in other countries in Europe, North America and Asia.