Unilever buys PM ice cream business in Brazil

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SAO PAULO, Brazil -- Philip Morris International has agreed to sell ice cream marketer Kibon, a unit of Kraft Suchard Brazil, to Unilever for $930m. The sale includes Kraft Suchard Brazil's 50% stake in Sorvane, an ice cream company in northeastern Brazil.

"Kibon is the market leader and premier ice cream in Brazil. However, ice cream is not a core category for our global food operations," says Andreas Gembler, president and chief executive officer of PMI. "We are strongly committed to our tobacco, confectionery and powdered beverage business in Brazil, as was demonstrated most recently with our acquisition of Lacta. We see Brazil as one of the most vibrant and promising markets in the world." In addition to the chocolate confectionery company Lacta, PMI's other confectionery brands marketed in Brazil include Diamante, Negro, Laka, Sonho de Valsa, Sugus and Confeti. Its beverage brands sold in Brazil include Tang, Clight and Ki-Suco.

Copyright October 1997, Crain Communications Inc.

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