Unilever to sell Ragu, Bertolli brands

Unilever announced Thursday it agreed to sell its North American pasta sauce business under the Ragu and Bertolli brands to the Mizkan Group of Japan for $2.15 billion.

According to the New York Times, the deal represents the British-Dutch company's latest effort to focs on high-margin personal care products, particularly in emerging markets.

“This sale represents one of the final steps in reshaping our portfolio in North America to deliver sustainable growth for Unilever, and enables us to sharpen our focus within our foods business,” Kees Kruythoff, the president of Unilever North America, said in a statement. “The Ragu and Bertolli business leads the pasta sauce category in the United States, and we believe that the potential of both brands can be fully realized with Mizkan.”

Read more from the New York Times.