In the space of seven days US agri-giant Bunge has not only plunged deeper into Far Eastern oils but also shed the private label retail bottled oil business of its edible oil division.
The company said on Friday that its bottled oil business will fall into the hands of Associated British Foods subsidiary ACH Food.
Although details of the acquisition were not disclosed, the move will give ACH Food the opportunity to consolidate its retail private label position in the United States.
In April last year the company paid €406 million for 19 food brands from the Unilever stable, which included Mazola cooking oil, Karo and Golden Griddle syrups and Henri's salad dressing sold in the US, Puerto Rico and Canada. At the time Unilever said the brands and related assets had combined sales of €350 million.
The Bunge sale includes the manufacturing assets relating to the private label retail bottled oil and private label retail pan spray oil businesses.
"Historically, we have differentiated ourselves in the private label sector through our solid trade relationships, high service levels, efficient distribution system and packaging innovations," said Steve Robinson, vice president, retail store brands.
Headquartered in Memphis, with eight manufacturing operations dotted around the country, ACH Foods also carries speciality shortenings and oil-based products, spray dried savoury ingredients and ingredient systems.