However, the frozen food business in Italy, which falls under the brand name Findus, will continue to remain with Unilever. The company has also refused to part with its ice cream division, whose brands include Magnum. Permira faced stiff competition from bidders including Capvest and a consortium of Blackstone, JP Morgan Partners & Kerry Foods for the frozen foods business. The divestment of the division is expected to be complete by the end of this year. However, the deal’s conclusion now rests on regulatory approval and a green signal from employee works councils. The company is hoping for an after-tax profit exceeding $1.28 billion. The frozen foods division reported revenues worth $1.59 billion last year and was put up for sale in February this year.
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Source:- IIPM Editorial
Visit also:- IIPM Publication, Business & Economy & Arindam Chaudhuri Initiative
For complete IIPM article click here
Source:- IIPM Editorial
Visit also:- IIPM Publication, Business & Economy & Arindam Chaudhuri Initiative
