Unilever Acquires Mexican Businesses

Unilever has completed two separate agreements to acquire the bakery business of the Mexican firm Carrancedo, and the remaining outstanding shares in Helados Bing, an existing Unilever ice cream joint venture. Carrancedo's bakery business employs some 500 people at one manufacturing site and a network of distribution warehouses. The company and its product portfolio, which includes yellow fats for bakery ingredients and cream alternatives, will be integrated with Marga de Mexico, a subsidiary of Unilever de Mexico.

The agreement for the outstanding shares in Helados Bing follows Unilever's acquisition of a minority stake in January 1997. Bing is a strong Mexican brand, well known for its high quality ice cream.

Charles Strauss, president for Unilever's Latin America Business Group said, ``These two acquisitions continue Unilever's strategy of improving and building the business portfolio in the region particularly in Mexico."