Unilever Plans to Sell Wish-Bone Dressing Business
Earlier this year, it sold Skippy Peanut Butter to Hormel
Sources tell Mergermarket that Unilever (NYSE:UL) is looking to sell its Wish-Bone brand and has hired a major Wall Street bank to help with the sale.
Details about the transaction weren’t revealed, including a potential asking price for the salad dressing business. The Dutch consumer giant was working with Goldman Sachs (NYSE:GS) to explore its options in the sale, according to the report.
Earlier this year, Unilever’s CEO said that the company would seek to sell its non-core food businesses.
There are a number of possible bidders for Wish-Bone, including Pinnacle Foods (NYSE:PF).
In January, Unilever sold its Skippy Peanut Butter business to Hormel Foods (NYSE:HRL) for about $700 million.
Shares of Unilever fell fractionally in Monday morning trading.
Article printed from InvestorPlace Media, http://investorplace.com/2013/05/unilever-plans-to-sell-wish-bone-dressing-business/.
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