Unilever to sell frozen foods unit to Permira

The deal, subject to regulatory approval, was struck late Sunday, a Unilever spokesman told IntraFish, and is expected to conclude by the end of the year.

The businesses sold in the transaction include frozen foods operations in Austria, Belgium, France, Germany, Ireland, Netherlands, Portugal and the United Kingdom. Unilever had frozen production plants in Bremerhaven and Reken, Germany, and in Hull and Lowestoft, England.

Patrick Cescau, group CEO for Unilever, said the frozen foods business was "great for Unilever over many decades," adding he was "confident that the business will prosper under the dedicated and focused management that the Permira Funds will bring."

Permira