British-Dutch multinational company Unilever has signed a deal to sell its meat snacks business to US beef jerky group Jack Link’s.
The sale includes Bifi and Peperami sausage brands as well as a manufacturing unit in Ansbach, Germany.
Bifi products are sold in Germany, Benelux, Austria and Switzerland markets, while Peperami brand retails in the UK and Ireland markets.
The transaction is subject to certain customary closing conditions.
Commenting on the deal, Unilever Europe president Jan Zijderveld, said, "Bifi and Peperami are two iconic local brands.
"As we continue to sharpen our portfolio to deliver sustainable growth for Unilever, we believe that the potential of these two brands can now be more fully realised with Jack Link's."
Jack Link's CEO Troy Link said, "Jack Link's mission is to be the No. 1 provider of branded meat snacks throughout the world.
"This is an important step in delivering on that mission and we are excited to welcome the BiFi and Peperami brands into the family. These brands continue to drive growth in meat snacks in their respective territories and we look forward to working with all of our team members and retail partners to continue that success."
The deal is a part of Unilever's efforts to focus on brands that allow it to expand to various markets.
In line with this, the company recently disposed its Skippy peanut butter brand as well as its Wish-Bone sauce business.
