Unilever’s Italian Food Business Bid Slated for May

The first round of bidding of Unilever’s Italian frozen food business, Findus Italy, is due by the end of next month, a person familiar with the situation said.

The Anglo-Dutch consumer goods group has hired Goldman Sachs to send information memorandums to interested parties, reports the The Wall Street Journal.

Private equity groups Permira, which owns Birds Eye Iglo Group, the European frozen-foods business it bought from Unilever in November 2006, and Lion Capital, which runs Findus Group, are expected to lead the bidding.

Unilever has been active in buying up companies to complement its existing portfolio and in particular its personal care products, which includes brands such as Ben & Jerry’s ice cream, Dove soap and Lynx deodorant.

Industry players estimate the food business to be worth over €600m ($800m).