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Unilever's spicy deal
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November 24, 1999: 9:45 a.m. ET
Food giant gobbles up French mustard maker Amora Maille for $745M
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LONDON (CNNfn) - Unilever is acquiring French mustard maker Amora Maille in a cash deal valued at 4.7 billion French francs ($745 million), the companies announced Wednesday.
Unilever is taking control of Amora from a French leveraged buyout fund run by Paribas. Amora manufactures a range of culinary products from mustard to salad dressings and sauces, and is the largest company in its market segment in France.
Unilever's share of the European culinary market will rise to 12 percent from 9 percent following the deal, which is subject to regulatory approval.
Amora's main office is in the home of French mustard-making, Dijon, although it has several other production facilities in the country.
Unilever reported that Amora is expected to generate operating profis of $44 million in 1999 on revenue of $364 million. The company has a net asset value of $105 million.
Unilever shares rose more than 2 percent to 465 pence in Wednesday afternoon trading in London.
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Unilever
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