Unilever to sell Culver Specialty division

British-Dutch consumer goods company Unilever has agreed to sell its Culver Specialty Brands division to US-based B&G Foods for $325m.

Unilever said the transaction is in line with its strategy to focus on brands with core categories that have global potential.

Culver Specialty Brands, which became a part of Unilever following the acquisition of Alberto Culver Company, reported revenues of approximately $90m for the 12 months ending 30 September 2011.

The division manufactures Mrs Dash salt-free branded seasoning blends, Molly McButter branded flavoured sprinkles, Sugar Twin branded sugar substitute, Bakers Joy branded baking spray and Static Guard branded anti-static spray for the US and Canadian markets.

B&G Foods president and CEO David L Wenner said Mrs Dash seasonings have a unique position within the seasonings category and are very relevant to today’s health conscious consumer.

"The other brands in the transaction are also consistent with B&G Foods’ acquisition strategy of acquiring smaller, high-margin brands," Wenner said.

The all-cash transaction is expected to close in 2011 and is subject to regulatory approval.