Unilever is reportedly set to unveil the sale of frozen food unit Findus Italy to Birds Eye Iglo for more than EUR800m.
According to the Financial Times, Birds Eye looks set to see off competition for Findus Italy from frozen-food rival Findus Group, the owner of brands including Young’s.
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A deal is still yet to be signed but Birds Eye is said to have secured agreement from Unilever after talks between the two companies hit an obstacle over a distribution contract, the FT said.
Unilever announced in April that it wanted to sell Findus Italy, a business it kept in 2006 when it sold Birds Eye and Iglo to private-equity group Permira.
The Anglo-Dutch conglomerate wants to focus on its “core” businesses in Italy, including its ice-cream operations.
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