Unilever (NYSE: UN, UL), the Anglo-Dutch consumer products giant, said Monday it was selling its laundry business in the U.S., Canada and Puerto Rico to private equity firm Vestar Capital for $1.45 billion. Included in the deal are the All, Wisk, Sunlight, Surf and Snuggle brands.

Selling mature or non-core businesses to focus on fast-growing units has been part of Unilever's recent strategy. Interestingly enough, though, the European laundry business has not been sold. Patrick Cescau, Unilever's CEO said that "Laundry remains an important category for Unilever outside North America." The sale will allow Unilever to concentrate on a "leading position" in Europe, Asia, Africa and Latin America, Cescau said.

Only last week, Unilever sold its Bertolli olive oil and vinegar business for $998 million to Grupo SOS SA and before that it sold its Turkish olive oil business. All part of a strategy to dispose of non-strategic brands, with collectively more than €2 billion ($3.14 billion) in turnover. It has made 19 divestments so far. The other parts of the plan include job cuts and other cost cutting measures. Unilever wants to concentrate on higher-priced products to boost profit, attempting to catch up to Procter & Gamble Co. (NYSE: PG).

Like other companies, particularly food companies, Unilever has been hit by rising commodity prices of corn, edible oils and milk. It is no surprise then its stock has suffered, down 18% year-to-date as not only the U.S. economy is experiencing a slowdown, but consumer demand is also slowing in Europe and emerging markets.

Analysts, though, have been happy with the prices Unilever has been getting for its divestments and it seems investors approve as well as Unilever (UN) rose 47 cents, or 1.6% to $29.68.

In addition, there have been reports Cescau told the board he would step down in May of next year, but that hasn't been confirmed. So far, he's been mostly responsible for the company's divestment and cost cutting plan, a plan that is working far better than most strategic plans I've seen lately.

Before becoming a lead editor on BloggingStocks, Melly Alazraki worked as an equity analyst and as an international institutional salesperson with various investment banks.