Unilever to sell European operations of Bertolli brand to Enrico-Glasbest

Unilever PLC on Jan. 4 agreed to sell its European pasta sauces, pesto and mayonnaise operations under the Bertolli brand to Dutch packaged food company Enrico-Glasbest for an undisclosed sum.

The London-based company sold Bertolli's olive oil operations to Spain's Deoleo SA in 2008 and the brand's margarine business was taken over by KKR & Co. Inc. and Upfield Foods in 2018. The U.S. brand rights and operations have been owned by Mizkan America Inc. since 2014, according to a statement.

Under the latest deal, Enrico-Glasbest said it expects to grow the 150-year-old brand with increased investments and estimates Bertolli to add about €50 million to its turnover.

The company added that the deal primarily includes trademark rights under the Bertolli license and excludes any transfer of employees or production facilities to the Dutch company. The current producers will continue to handle the production of Bertolli products.

Unilever and Enrico-Glasbest have agreed to a six-month transition period to complete the transaction. During this time, Unilever will continue to manage sales and operations for Bertolli.