FDBusiness.com

European Commission Clears Acquisition of Unilever’s Baking, Cooking and Spreads Business

 Breaking News
  • Solid Revenue Growth at Froneri as Significant Investment Programme Continues Froneri, the international ice-cream manufacturer, has reported solid group revenue growth of 3.6% to €2.6 billion for year ended 31 December 2018. Created in 2016 as a joint-venture between PAI Partners and Nestlé, Froneri is the second largest manufacturer of ice cream in Europe, the third largest worldwide and the number one private label producer [...]...
  • Where the Food and Beverage World Tastes Success – Fi Europe & Ni Returns to Paris This year, Food ingredients Europe & Natural ingredients will once again be the food industry’s epicentre over the course of three days. The Parc des Expositions Paris Nord Villepinte will become the number 1 platform where leading ingredient manufacturers establish numerous high-quality business connections. Trade visitors can expect a broad spectrum of products, concepts and [...]...
  • A Gut Feeling About Body Fat Research shows that loss of body fat causes the growth of the intestine and increases its capacity to absorb nutrients. This presents new approaches for weight management. Researchers at Teagasc (Irish Agriculture and Food Development Authority) and the University of Aberdeen have found that the depletion of fat stores inside the body causes the growth of [...]...
  • First Milk Acquires Fonterra’s 51% Stake in Fast Forward Joint Venture First Milk, a wholly British farmer-owned dairy co-operative, has agreed to purchase Fonterra’s 51% share of its Fast Forward joint venture, established in 2011, and has entered a new strategic partnership with Havero Hoogwegt for global WPC80 sales and distribution. From July 2019, First Milk will be the sole owner of the whey protein concentrate [...]...
  • Leaders in Luxury Packaging Join London’s Most Exclusive Packaging Event Luxury Packaging London 2019 will celebrate its 10th anniversary when it returns to Olympia on 11 & 12 September, hosted alongside Packaging Innovations. As the UK’s leading luxury packaging event, it will bring together over 180 exhibitors and a dedicated audience of senior buyers, all looking to source the latest in luxury packaging solutions. With consumer concerns [...]...

European Commission Clears Acquisition of Unilever’s Baking, Cooking and Spreads Business

European Commission Clears Acquisition of Unilever’s Baking, Cooking and Spreads Business
March 26
12:23 2018

The European Commission has approved, under the EU Merger Regulation, the €6.8 billion acquisition of Unilever’s baking, cooking and spreads business by KKR of the US. Unilever’s baking, cooking and spreads business manufactures and sells butter, margarine and other spreads, melanges, dairy cream alternatives and vegetable oils in Europe and worldwide.

Unilever’s spreads business includes brands such as Becel, Flora, Country Crock, Blue Band, I Can’t Believe It’s Not Butter, Rama and ProActiv. It operates across 66 countries around the world. In 2016 the business had a turnover of €3.03 billion, EBITDA (before any carveout adjustments under new ownership) of €680 million, and assets of €1.108 billion.

KKR is a global investment company that offers alternative asset management services to public and private market investors, and provides capital markets solutions for the firm, its portfolio companies and clients. The Commission concluded that the proposed acquisition would raise no competition concerns because the companies’ activities do not overlap and they are not active on related markets. The operation was examined under the simplified merger review procedure.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • October 17, 2019Future Food-Tech
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements