Unilever Plans to Sell Wish-Bone Dressing Business

by Christopher Freeburn | May 6, 2013 11:59 am

WishBoneLogo 279x300 Unilever Plans to Sell Wish Bone Dressing Business[1]Sources tell Mergermarket that Unilever (NYSE:UL[2]) is looking to sell its Wish-Bone brand[3] 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[4]) 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[5]).

In January, Unilever sold its Skippy Peanut Butter business[6] to Hormel Foods (NYSE:HRL[7]) for about $700 million.

Shares of Unilever fell fractionally in Monday morning trading.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2013/05/WishBoneLogo.gif
  2. UL: http://studio-5.financialcontent.com/investplace/quote?Symbol=UL
  3. looking to sell its Wish-Bone brand: http://www.ft.com/intl/cms/s/2/ace64160-b428-11e2-ace9-00144feabdc0.html#axzz2SWI3aXW2
  4. GS: http://studio-5.financialcontent.com/investplace/quote?Symbol=GS
  5. PF: http://studio-5.financialcontent.com/investplace/quote?Symbol=PF
  6. sold its Skippy Peanut Butter business: http://investorplace.com/2013/01/hormel-foods-buys-skippy-peanut-butter-shares-jump/
  7. HRL: http://studio-5.financialcontent.com/investplace/quote?Symbol=HRL

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