LONDON (dpa-AFX) - Unilever plc (UL) announced that it has signed a definitive agreement with B&G Foods Inc. (BGS) to sell its Culver Specialty Brands division, which includes Mrs. Dash salt-free branded seasoning blends, Molly McButter branded flavored sprinkles, Sugar Twin branded sugar substitute, Bakers Joy branded baking spray and Static Guard branded anti-static spray in the US and Canada for $325 million or EUR 230 million in cash.
The transaction, which is subject to regulatory approval, is expected to close this year.
Culver Specialty Brands generated revenue of approximately $90 million or EUR 64 million for the twelve months ending September 30, 2011.
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