Anglo-Dutch agribusiness group Unilever has sold its instant soup and sauces business to US Campbell Soup for one billion euros, net of debt.
The brands being sold include Batchelors in Britain, Royco in France and Heisse Tasse of Germany, the company said in a statement.
The sale requires approval from the competition authorities. The combined sales of the brands being sold total 435 million euros a year.
Unilever had to sell some of its businesses as the European Commission called for asset sales as a condition for allowing the Anglo-Dutch company's acquisition of US group Bestfoods last year.
Other brands being sold include Oxo stock cubes in Britain and Ireland.
