Unilever looks to sell its Spreads business to KKR
London-based Unilever, a leading brand in personal care, home care, food and refreshments has received an offer from KKR — a global investment firm that manages multiple asset classes including private equity, energy, infrastructure, real estate and credit — to purchase its global Spreads business. The offer is for €6.825 billion in Euros and is expected to be on a cash-free and debt-free basis.
“In April of this year, we set out our 2020 programme to accelerate sustainable value creation. After a long history in Unilever we decided that the future of the Spreads business would lie outside the Group. The announcement today marks a further step in reshaping and sharpening our portfolio for long-term growth. The consideration recognizes the market-leading brands and the improved momentum we have achieved. I am confident that under KKR’s ownership, the Spreads business with its iconic brands will be able to fulfill its full potential as well as societal responsibilities,” Paul Polman, CEO of Unilever said.
Part of Unilever Spread’s business includes the brands Becel, Flora, Country Crock, Blue Band, I Can’t Believe It’s Not Butter, Rama and ProActiv. Current CEO of Spreads, Nicolas Liabeuf will continue to lead the business lead.
“The strength of the portfolio of consumer brands in Spreads provides a firm foundation for future growth. We look forward to deploying our global network and operational expertise to support the business’s growth ambitions while continuing to follow Unilever’s responsible sourcing policies, including working towards the goal of sourcing 100 percent sustainable palm oil by 2019,” Johannes Huth, head of KKR EMEA said.
The offer is subject to certain regulatory approvals, employee consultation in certain jurisdictions and expected to be completed by mid-2018.
House Wine expands Rosé Bubbles availability, adds 2 offerings
Seattle-based House Wine has announced that its Rosé Bubbles, which comes in a 375-ml can, is now available for purchase nationwide. In addition to expanding the availability of the product, the company also has announced the addition of Sauvignon Blanc and Pinot Noir in a 375-ml can to debut by January 2018 in locations throughout the nation.
"The instant success of House Wine cans continues to blow our minds," Alex Evans, chief sales and marketing officer at Precept Wine, said. "House Wine is made for this category, which delivers fresh wine and caters to the grab-and-go lifestyle of busy and active wine consumers. They are also accessible, affordable and recyclable, which helps reduce overall waste, but most of all they are delicious!"
The Rosé Bubbles contains aromas of fresh berries and citrus flavors; Wine Sauvignon Blanc will hold notes of grapefruit, melon and floral aromas, which give way to flavors of white peach; and Pinot Noir will contain aromas of black cherry, cocoa and clove.
House Wine’s offerings are available nationwide for the suggested retail price of $5.99 for a 375-ml can, $11.99 for 750-ml cans and $19.99 for a three-liter box.
Kellogg’s gets magical with limited-edition Unicorn cereal
Kellogg’s has announced a magical new addition to its portfolio — Unicorn Cereal. The product initially launched in the U.K. earlier this year and will now be hitting retail stores nationwide in the spring, specifically in March of 2018 for a limited time only.
The new cereal will consist of red, blue and purple loops with white crunchlets. Also included will be a cupcake flavor that varies slightly from the yellow, purple and red U.K. loops, the company said.
Before its official launch next year, those eager to try the product will be able to do so at the Kellogg’s NYC Café located in Union Square in Manhattan. A cereal-inspired menu featuring Kellogg's signature products, along with creations by lifestyle expert and reality star Lauren Conrad, await consumers at the location, along with a preview of the Unicorn Cereal, the company said.