Unilever reached a deal Sunday for the sale of the majority of its frozen foods division, including frozen fish brands Iglo and Birds Eye, and production units at Hull and Lowestoft, Enlgand, and Reken and Bremerhaven, Germany.
The price for the division was just over €1.7 billion ($2.2 billion), around 1.4 times annual sales of €1.2 billion ($1.6 billion), and 9.9 times earnings before interest, taxation, depreciation and amortization (EBITDA) of €174 million ($222.8 million).
Market expectations up until early last week were for a sale price of somewhere in the vicinity of €1.4
