LONDON (SHARECAST) - Food and household goods giant Unilever has agreed to sell its Italian frozen foods business Findus to Birds Eye Iglo, the European group of companies that owns the Birds Eye brand in the UK, for €805m.
James Hill, chairman of Unilever Italy, said that the sale would leave it in a better position to focus on its non-frozen food business.
The sale includes several brands and a factory in Cisterna, Italy. About 650 factory and head office staff will transfer to Birds Eye Iglo.
Birds Eye Iglo operates under the Iglo brand in mainland Europe.
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