Privately-equity firm KKR has declined to comment on speculation over the potential disposal of its Flora Food Group spreads assets.
The Financial Times reported today (30 April) that KKR is working with investment banks on a possible disposal of Flora Food Group.
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Unnamed sources for the publication attached a value to a possible deal of as much as $10bn.
Like KKR, Amsterdam-headquartered Flora Food Group also declined to comment on the speculation when approached by Just Food.
The private-equity investor completed the acquisition of the Flora Food Group plant-based branded assets in Europe, the Middle East and Africa (EMEA) in 2018. The business was bought from FMCG giant Unilever for around €6.8bn ($7.9bn today).
KKR was also said to have been previously linked to a sale of Flora Food Group to Abu Dhabi’s sovereign wealth fund but that deal fell through.
Flora Food Group owns brands such as its namesake spreads line, along with I Can’t Believe It’s Not Butter and Country Crock. The portfolio also houses Blue Band, Becel and Violife, amongst others.
The group previously traded as Upfield before management renamed the business in 2024. The company generated sales in 2025 of around €3bn, according to Flora Food Group’s website.
Meanwhile, assets in Latin America are also in the process of being sold by Flora Food Group.
In March, Alicorp revealed it had signed an agreement to acquire a number of businesses in the region.
The Peruvian consumer goods group said in a statement it would take control of Flora’s operations across seven markets – Guatemala, Panama, the Dominican Republic, Colombia, Ecuador, Peru and Chile.
Flora Food Group also declined to comment on that deal with Just Food at the time.
The transaction in Latin America includes a manufacturing plant in Cali, Colombia, according to a separate statement from Simpson Thacher, Flora’s adviser on that deal. It does not include Flora’s operations in Brazil and Mexico.
Its brands in the region include La Danesa margarine, as well as Dorina and Bonella butter, according to another statement from Bustamante Fabara, the legal adviser to Alicorp for the Ecuador part of the deal.
