Anglo-Dutch food giant Unilever PLC is set to raise more than $2 billion from the sale of its US bakery business and a group of European brands, the Financial Times said today. Unilever spokesman Christiaan Brakman refused to comment on the report.
According to the newspaper, Campbell Soup Co, HJ Heinz Co Ltd and Nestle SA were competing for European brands including Oxo stock cubes, Lesieur mayonnaise and Batchelors Cup-A-Soup.
Second-round bids were submitted last week for the brands, which had annual sales of $500 million, the report said.
Sara Lee Corp, Grupo Bimbo de Mexico and Earthgrains were said to be among food firms considering offers for the US bakery business, with final offers due by mid-February, expected to exceed $1.4 billion. The sales followed last year's $21.3 billion acquisition of Bestfoods.
