This transaction includes brands such as Becel, Flora, Country Crock, Blue Band, I Can’t Believe It’s Not Butter, Rama and ProActiv.
Unilever, London, received a binding offer from KKR, New York, to purchase its global spreads business, which includes brands such as Becel, Flora, Country Crock, Blue Band, I Can’t Believe It’s Not Butter, Rama and ProActiv.
“In April of this year, we set out our 2020 program to accelerate sustainable value creation. After a long history in Unilever, we decided that the future of the spreads business would lie outside the group. The announcement today marks a further step in reshaping and sharpening our portfolio for long-term growth. The consideration recognizes the market-leading brands and the improved momentum we have achieved. 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,” says Paul Polman, chief executive officer of Unilever.