Private equity firms Bain Capital and Clayton, Dubilier & Rice are preparing an offer for the £6 billion spreads unit of Unilever, per Sky News.
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The consumer goods giant announced in April that the business, which includes brands such as Flora and Stork, would be put up for sale, with previous reports indicating that an auction process is scheduled to begin in autumn.
Unilever is currently undergoing a strategic review of its structure following a blockbuster $143 billion takeover approach from Kraft Heinz in February. The spreads arm is set to be the first to go as a part of the rethink, which includes a review of the Anglo-Dutch company’s entire legal structure in a bid to streamline.
Unilever recently announced a net profit of €3.3 billion for 1H 2017, up 22.4% from the previous year.
Article by PitchBook
