The shares were acquired from Vitco International.
Unilever: The acquisition represents leverage for
entering into Israel's detergents and beauty-care
products market.
Unilever has acquired 60% of the shares of Vitco
Israel at a consideration of $13 million. The shares were
acquired from Vitco International, which held them for 27
years. The 40% balance of the shares remain in the hands
of Delek Investments.
In a communique issued today (Tuesday), Unilever
reports that the acquisition of control in Vitco Israel
represents leverage for entering into Israel's detergents
and beauty-care products market. As a result of this
partnership, Vitco Israel will enjoy support in the
form of know-how and advanced technology, as well as the
goodwill of Uniliever's products", says the
communique.
The sales turnover of the Anglo-Dutch Unilever concern
stands at $50 billion, of which $15 billion relate to the
cleaning materials and beauty-care products field.
Unilever entered in September 1995 into partnership in
the Strauss ice-cream firm