UK/NETHERLANDS: Unilever silent over Ragu disposal claims
Unilever said to have contacted companies including Pinnacle, Heinz and Kraft Foods Group
Unilever has refused to comment on reports it is looking to sell off its Ragu pasta sauce brand.
According to a report carried by Bloomberg, Unilever has appointed Morgan Stanley to sell the unit.
Bloomberg claimed Unilever has contacted companies that were approached when it sold the Wish-Bone dressings business to Pinnacle Foods last year.
Citing sources, the newswire said Unilever expects to sell the brand for between $1.5 billion and $2 billion, two of the people said.
However, a spokesperson for Unilever said the company did "not comment on rumour or speculation" when approached by just-food.
Pinnacle, Heinz and Kraft could not be reached for immediate comment.
Unilever acquired Ragu in 1987. Three years ago, the company sold the UK and Irish rights to Ragu to UK firm Symington's.
The consumer goods giant has been steadily offloading food assets in recent years. Unilever's most recent deal was announced just over a week ago with an agreement to sell meat snacks business to US beef jerky firm Jack Link's.
CEO Paul Polman told analysts in January the group would continue to prune its portfolio in the coming 12 months.
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