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.
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.
We'd like to hear how you see the outlook for your business in 2014.
Now in its third year, the just-food Confidence Survey provides a snapshot of how you and your colleagues in the industry see the year unfolding. The latest survey is live and takes just a few moments to fill in.
In the coming weeks, we'll be reporting on the highlights from the survey in a free webinar live on just-food.com.
As a thank you for filling in the survey, you'll receive an executive summary detailing the results.
H. J. Heinz Company - Strategy and SWOT Report, is a source of comprehensive company data and information. The report covers the company’s structure, operation, SWOT analysis, product and service offe...
Project Synopsis: MarketLine's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity unde...
H. J. Heinz Company - SWOT, Strategy and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company’s structure, operation, SWOT analysis, produ...
Kraft Foods Group, Inc. - Strategy and SWOT Report, is a source of comprehensive company data and information. The report covers the company’s structure, operation, SWOT analysis, product and service ...
- On the move: What's in store from Tesco's new CEO?
- The just-food interview: Premier Foods CEO Darby
- On the money: Danone denies strategy overhaul
- On the money: Unilever shifting into growth spots
- Comment: Danone could be mulling strategy shift
- UPDATE: Premier establishes international unit
- Campbell issues warning on 2014/15 fiscal year
- S&A Foods announces restructure, 55 jobs to go
- Universal Robina to buy biscuit firm Griffin's
- Premier launches Oxo pots range in UK