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Unilever Completes Sale of North American Laundry Business

Vestar Capital Partners purchases U.S., Canada and Puerto Rico locales

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By: TOM BRANNA

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Unilever has completed the sale of its North American laundry business in the U.S., Canada and Puerto Rico to Vestar Capital Partners, a global private equity firm. The transaction will merge the business with existing operation Huish Detergents Inc. to form a new company, The Sun Products Corporation. According to Unilever, it has received an aggregate consideration of approximately $1.45 billion—consisting of approximately $1.075 billion in cash, preferred shares in Sun Products with a face...

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