October 30/The Hague/The Express Tribune -- Anglo-Dutch food and cosmetics giant Unilever confirmed the sale of its Culver Speciality Brands division to B&G Foods in a multi-million dollar deal.

“Unilever… has signed a definitive agreement with B&G Foods” to sell the division for U$325 million in cash, it said in a statement sent to AFP. “The transaction, which is subject to regulatory approval, is expected to close this year,” it added.

Culver Specialty Brands is part of the Alberto Culver Company, which was recently bought by Unilever. It generated revenues of around 64 million euros for the year ending September 30, Unilever said.

 From the October 31, 2011, Prepared Foods' Daily News.