UK: Unilever weighing up sale of spreads division – reports

UK: Unilever weighing up sale of spreads division – reports

Unilever, the Anglo-Dutch consumer goods giant, is contemplating the sale of its margarine and spreads division, including brands such as Flora, Bertolli and Stock, according to reports in the British media.

In an article, the Telegraph suggests that a number of suitors, including Kraft Heinz as well as private equity firms, would be willing to pay up to £6 billion ($7.48 billion) to acquire the division, which generates around £480 million ($598 million) in annual earnings and is described as ‘non core’.

The reports follow the disquiet that resulted from a failed takeover bid for Unilever by the firm’s smaller US rival Kraft Heinz in February.

Rumours regarding the future of the Unilever business as a whole have abounded since the takeover attempt: recent speculation includes the possibility of the firm spinning off its entire food arm, or else making a move for personal and household care rival Colgate-Palmolive, the Telegraph reports.

Source: The Telegraph