US-based investment fund Platinum Equity is reportedly interested in buying a chunk of Unilever’s spreads business, with the deadline for the bids for the division said to be next week.

Citing unnamed sources, Reuters reported Platinum Equity was looking at Unilever’s spreads assets in markets such as North America and Europe, rather than the parts of the business in emerging markets.

Reuters said the deadline for suitors to bid for Unilever’s spreads division, which has been reported to have attracted a number of private-equity firms, is 11 December.

Unilever said in April it planned to exit the spreads category, a sector under pressure and in which the company has been struggling to grow in recent years.

In September, Unilever announced the sale of its spreads business in southern Africa to South Africa-based investment firm Remgro, which among its assets includes a majority stake in local food group RCL Foods, already a notable player in the category locally.

Last month, Sky News reported Unilever had drawn up a shortlist of four suitors interested in buying some or all of its remaining spreads assets.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The broadcaster claimed the Flora and Becel owner had asked private-equity firms Apollo Global, CVC Capital Partners, KKR and Platinum Equity to table new offers for the assets.