Unilever Sheds Culver Specialty Brands

Unilever has signed a definitive agreement with B&G Foods to sell its Culver Specialty Brands division, which includes Mrs. Dash seasoning blends, Molly McButter flavored sprinkles, Sugar Twin sugar substitute, Bakers Joy baking spray and Static Guard branded anti-static spray in the US and Canada, for $325 million in cash.

Culver Specialty Brands, which came to Unilever with acquisition of The Alberto Culver Company, generated revenue of approximately $90 million for the twelve months ending September 30, 2011. Products are manufactured at third-party facilities so no Unilever-owned plants are affected by this transaction, the company announced.

Alberto-Culver patented Static Guard anti-static spray for use by consumers in 1978.

The transaction, which is subject to regulatory approval, is expected to close this year, according to Unilever.