Unilever to divest meat snacks unit to US firm Jack Link’s

Dutch consumer goods company Unilever has agreed to divest its European meat snacks business to Jack Link’s.

The financial terms of the deal have not been disclosed.

Subject to customary closing conditions, the sale includes the Peperami and Bifi brands as well as a manufacturing plant in Ansbach, Germany.

Bifi retails in Germany, Benelux, Austria and Switzerland, while Peperami brand products are sold in the UK and Ireland markets.

Unilever Europe president Jan Zijderveld said, "As we continue to sharpen our portfolio to deliver sustainable growth for Unilever, we believe that the potential of these two brands can now be more fully realised with Jack Link’s."

Jack Link’s CEO Troy Link said, "Jack Link’s mission is to be the number one provider of branded meat snacks throughout the world.

"This is an important step in delivering on that mission and we are excited to welcome the BiFi and Peperami brands into the family.

"These brands continue to drive growth in meat snacks in their respective territories and we look forward to working with all of our team members and retail partners to continue that success."

The deal comes after Unilever offloaded its Royal pasta brand in the Philippines recently to food and beverage firm RFM in a PHP2.1bn ($47.8m) deal.

In 2013, the Dutch giant sold its Wish-Bone and Western dressings brands to US-based Pinnacle Foods, Turkish oils and fats unit Unipro to AarhusKarlshamn, and Skippy peanut butter business to Hormel Foods.