Unilever To Auction Margarine Business

June 19, 2017
Fall auction could net $7.5 billion for Country Crock, Shedd's, etc.

Unilever plans to auction off its margarine and spreads business this fall, with the deal completed by year-end, its chief financial officer said last week.

Graeme Pitkethly announced the plan at a conference hosted by Deutsche Bank. "If we are unable to achieve sufficient value in an outright sale, we do plan to demerge this business, and that might take a little bit longer," the CFO was quoted by the New York Times.

Reuters cited sources that estimated the business could net Unilever about $7.5 billion.

The possibility of splitting off the large but shrinking business was first announced in April, a few weeks after Kraft Heinz made a short-lived but shocking offer to buy all of Unilever.

Unilever's worldwide margarine/spread brands include Amora, Becel, Blue Band, Country Crock, Flora, Rama and Shedd’s.

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