Associated British Foods' American arm has agreed to buy Unilever's North American corn oil and corn products business in a £248m deal. Among the 19 brands included in the sale is Mazola cooking oil, and the businesses had a combined turnover last year of £214m. Associated British Foods chief executive Peter Jackson said: "This acquisition is in line with our policy of investing in areas where we have strength and expertise. "The successful integration of the former Procter & Gamble branded foodservice oils business demonstrates our track record in absorbing and adding value to such acquisitions." The brands were acquired by Unilever as part of its takeover of Bestfoods in October 2000. {{NEWS }}

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