Speculation is mounting over the potential suitors for Unilever’s Ragu brand, with the likes of Hormel Foods and Hillshire Brands touted as would-be acquirers alongside Post Holdings and Mizkan.
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.
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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.
Earlier in the month Heinz, Kraft Foods Group, Smucker and Pinnacle were all named as brands Unilever is said to have contacted regarding the Ragu sale.
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.
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