UK: Unilever announces sale of spreads business

Unilever, the Anglo-Dutch FMCG giant, has announced that it is looking to sell its margarine and spreads division, confirming recent speculation that such a move might be on the cards.

The unit, which includes brands such as Flora, Bertolli and Stork, could fetch as much as $6 billion in a sale, according to analysts.

The move is seen as part of a wider review of Unilever’s structure and operations following Kraft Heinz’s unsuccessful bid for the company in February. The Guardian reports that private equity funds including CVC and Bain Capital, as well as Kraft Heinz itself, could be interested in acquiring the business.

Speaking to the BBC, Unilever chief executive Paul Polman described the margarine business as a "declining segment" and one that could be "better managed by others".

"The events of the last few weeks have pointed out that we have opportunities to drive further value in the business", he added.

Source: BBC / The Guardian