Unilever sells its spread business
In an attempt to focus on its higher growth businesses, Unilever has announced the sale of its spread brands Becel, Flora, Country Crock, Blue Band, I Can’t Believe It’s Not Butter, Rama and ProActiv.
They will be purchased by the world-leading private equity fund KKR for €6.825 billion in cash.
The Anglo-Dutch giant’s spreads are exported to 66 countries worldwide and in 2016 generated revenue of more than €3 billion and an EBITDA of €680 million.
The transaction is expected to be completed by mid-2018.
