Unilever is selling off its pasta sauce business for $2.15 billion, the proceeds of which the consumer goods giant will use to repurchase share rights held by family trusts of a company cofounder.

Japanese food manufacturer Mizkan Group has agreed to buy the Bertolli and Ragu brands—the latter of which is the top-selling pasta sauce in the U.S.—from the Anglo-Dutch food conglomerate in order to increase its presence in North America.

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