Unilever Plans To Sell Iberia Foods Corp.

Unilever announced that it will put up for sale its U.S. Iberia Foods business, a leading distributor of food and consumer products to the Hispanic-American market.

Iberia Foods Corp., which has annual sales over U.S. $40 million, services more than 3,000 supermarket chains, club stores, wholesalers and distributors with products orientated toward the tastes and needs of Hispanic Americans, one of the fastest growing segments of the U.S. population.

The company distributes a mix of Iberia-branded products including rice, canned and bagged beans, olives, canned seafood and meats, all manufactured by copackers. In addition, Iberia distributes Unilever Bestfoods’ Knorr and Maizena products from Latin America in the U.S. and has exclusive rights to distribute certain leading food and consumer goods brands from Puerto Rico, Spain, Colombia and Venezuela.

Neil Beckerman, President and CEO of Unilever Bestfoods North America said: “Iberia is well-positioned, both in terms of geography and focus, to take advantage of the continuing growth of the Hispanic-American market. However, as a distribution business it does not fit within our strategic plan.”

Unilever is selling the business, which it acquired as part of its merger with Bestfoods in October 2000, as part of its strategy to concentrate on its leading brands that include Ragu, Hellmann’s and Lipton foods as well as Dove, Suave and Wisk home and personal care products.

Iberia is concentrated in New York City and Miami, but distributes throughout the East Coast of the U.S. The company employs some 84 people at offices in Moonachie, New Jersey, and Miami, Florida.

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