LONDON (Brand Republic) – Anglo-Dutch consumer products group Unilever has sold its Bestfood Baking subsidiary for $1.76bn (£1.2bn).
The business, which includes Entenmann’s cakes and pastries and Thomas’ English muffins, has been bought by George Weston, a Canadian food and supermarket group. It beat off competition from Sara Lee, Bimbo de Mexico and Earthgrains.
Unilever has been under pressure from the competition authorities to sell the business since its £13bn acquisition of Bestfoods in June last year, when it also got brands such as Knorr and Hellmann’s.