Unilever Sale Confirms Private Equity As Unlikely Standard Bearer For Frozen Food

Anglo-Dutch consumer goods giant Unilever has sold it Italian frozen food business to food group Birds Eye Iglo for EUR805mn. Unilever has already divested its other European frozen food businesses to focus on faster growing segments and the sale brings its Italian offering in line with other European markets. Birds Eye Iglo is controlled by private equity group Permira and the move continues the trend of the last five years which has seen private equity take an active role in consolidating the frozen food sector, in an attempt to reinvigorate an unfashionable

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