Unilever’s Sale of Culver Specialty Brands to B&G Foods

On October 28, 2011, Unilever announced that it has signed a definitive agreement with B&G Foods, Inc. 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 U.S. and Canada for $325 million (EUR 230 million) in cash. Cravath represented Unilever in connection with this transaction, which is subject to regulatory approval and expected to close this year.

The Cravath team included partner Mark I. Greene and associates D. Scott Bennett and Jeffrey M. Silver on corporate matters; partner Michael L. Schler and associate Joanne J. Lee on tax matters; and partner Eric W. Hilfers and associate Jarrett R. Hoffman on executive compensation and benefits matters.