Dec 15, 2017

Unilever sells margarine business to KKR for £6bn

Unilever has agreed to sell its margarine and spreads business, which include Flora and ProActiv, to private equity giant KKR for €6.8bn. The move follows a wide-ranging review of its business which was prompted by a takeover attempt by rival Kraft. Unilever said it would look for a buyer of the spreads business in April. It said the margarine business was a "Declining segment" that could be "Better managed by others". "Paul Polman, chief executive of Unilever, said:"The announcement today marks a further step in reshaping and sharpening our portfolio for long term growth. "I am confident that under KKR's ownership, the spreads business, with its iconic brands, will be able to fulfil its full potential as well as societal responsibilities."

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