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Check Out Line: For Unilever, P.F. Chang’s in a box

August 17, 2009

Check Out Unilever’s agreement with P.F. Chang’s.lettucet

Europe-based Unilever, one of the world’s largest consumer products companies, said on Monday that it has inked an exclusive licensing deal with Asian-themed restaurant chain P.F. Chang’s China Bistro to come up with a line of frozen entrees.

Unilever is already known to have products like Knorr soup and the Bertolli range of Italian frozen meals in its portfolio.

Now the company is diving into the Asian food arena, saying “the opportunity is significant.”

As for P.F. Chang’s, this could be a blessing at the right time, as the company struggles with consumer who are eating less at sit-down restaurants, and a looming federal minimum wage increase.

“This represents a fantastic growth opportunity for our company and allows our brand to reach more people more often,” said Rich Federico, chairman and co-chief executive of P.F. Chang’s China Bistro.

Terms of the deal were not disclosed and there is no word on when the new products will be ready.

Also in the basket:

Lowe’s posts lower profit, outlook disappoints

Japan pulls out of recession, but outlook shaky

H&M July same-store sales fall more than expected

Fashion magazines are looking thinner – WSJ

(Photo/P.F. Chang’s website)

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