KKR Reportedly Eyeing Sale of Spreads Business
According to a report in the Financial Times and picked up by various other outlets, private investment group KKR is considering selling its spreads business, including the Country Crock, I Can’t Believe It’s Not Butter! and other brands.
The group, renamed by KKR as Flora Food Group in 2024, was acquired from Unilever in 2017 for approximately $8 billion, and KKR is reportedly seeking $10 billion for the business today. Under Unilever, the business was known as Upfield.
The Financial Times report said Flora, which reportedly generated 3 billion euros in net sales in 2025, could attract interest from other PE firms. This isn’t the first time KKR has attempted to divest Flora, having entered into the process of selling it to Abu Dhabi wealth fund ADQ in early 2024 — but that deal faltered due to disagreements over price, according to a report.
About the Author
Andy Hanacek
Senior Editor
Andy Hanacek has covered meat, poultry, bakery and snack foods as a B2B editor for nearly 20 years, and has toured hundreds of processing plants and food companies, sharing stories of innovation and technological advancement throughout the food supply chain. In 2018, he won a Folio:Eddie Award for his unique "From the Editor's Desk" video blogs, and he has brought home additional awards from Folio and ASBPE over the years. In addition, Hanacek led the Meat Industry Hall of Fame for several years and was vice president of communications for We R Food Safety, a food safety software and consulting company.