US: Hormel, Hillshire linked to Unilever's Ragu
Unilever is rumoured to be looking for a buyer for Ragu
Hormel Foods and Hillshire Brands both remained silent on speculation they have expressed interest in Unilever's pasta sauce brand, while Post and Mizkan were unavailable for comment at time of press.
Unilever, meanwhile, refused to be drawn on the subject when speculation emerged that it was mulling the sale of Ragu earlier this month. Morgan Stanley, who it is said to be managing the sale, declined to comment.
Analysts suggested Pinnacle would be the most likely of the four to acquire the brand since the group acquired the Wish-Bone salad dressings business from Unilever in a US$580m deal last year.
According to Bloomberg, first round bids for Ragu could fetch up to $2bn.
Tyson Foods and Hormel Foods have had processing plants and cold storage facilities barred from exporting pork to China over the use of a feed additive that promotes lean muscle growth....
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