Unilever has sold its oil and cooking fats arm to Princes, the canned fish company.

Unilever is reported to have said jobs at its factory at Purfleet in Essex, which produces 1m tubs of margarine a day, would not be affected by the sale of Crisp ‘n’ Dry and Cookeen.

The company will release its full-year results on Thursday where it is expected to announce the end of its dual management structure, whereby it currently has a chairman in both Britain and Holland.