In this file:

 

·         Unilever involved in bidding war for Reckitt Benckiser’s food unit

Univeler is vying with Hormel Foods to buy Reckitt Benckiser’s food business in a deal which could be worth $2 billion.

 

·         Unilever and Hormel Are Duking It Out to Purchase Food Division of Britain's Reckitt Benckiser

·         Unilever, Hormel 'front-runners' for Reckitt Benckiser's food unit

 

 

Unilever involved in bidding war for Reckitt Benckiser’s food unit

 

FoodBev Media

July 17, 2017

 

Univeler is vying with Hormel Foods to buy Reckitt Benckiser’s food business in a deal which could be worth $2 billion.

 

The Sunday Times first reported the deal, with both potential buyers facing competition from spice specialist McCormick and Birds Eye’s North American owner, Pinnacle Foods.

 

Consumer goods company Reckitt Benckiser confirmed a strategic review of its business in April, following the $17.9 billion acquisition of infant formula producer Mead Johnson.

 

Its food brands include French’s and Frank’s sauces and its food unit had sales of £411 million in 2016, but the company is increasingly focused on consumer health.

 

Unilever CEO Paul Polman confirmed in April that the business would investigate the viability of purchasing Benckiser’s food arm.

 

The proposed purchase comes six months after Unilever rejected a $143 billion takeover approach from Kraft Heinz...

 

more, including links

http://www.foodbev.com/news/unilever-involved-bidding-war-reckitt-benckisers-food-unit/

 

 

Unilever and Hormel Are Duking It Out to Purchase Food Division of Britain's Reckitt Benckiser

 

Tony Owusu, TheStreet

Jul 17, 2017

 

European consumer goods company Unilever PLC (UNL) and its American counterpart Hormel Foods Corp. (HRL) are both vying for the opportunity to purchase the food division of British consumer goods company Reckitt Benckiser, the Sunday Times reported.

 

The food business, which includes French's mustard brand among others, is expected to go for at least $2.9 billion, sources told the British newspaper.

 

Earlier this month, Reckitt trimmed its sales forecast…

 

more 

https://www.thestreet.com/story/14230628/1/unilever-and-hormel-are-duking-it-out-to-purchase-food-division-of-britain-s-reckitt-benckiser.html

 

 

Unilever, Hormel 'front-runners' for Reckitt Benckiser's food unit

 

By Katy Askew, Just-Food

17 July 2017

 

Unilever and Hormel Foods are reportedly leading the pack in the race to acquire the food business of UK-listed FMCG group Reckitt Benckiser.

 

According to a report in The Sunday Times yesterday (16 July), Unilever and Hormel are front-runners in a sale process expected to value the business in the region of GBP2.2bn (US$2.9bn).

 

Reckitt Benckiser announced in April it was considering the future of its food division, which includes mustard brand French's and Frank's RedHot sauce. The unit generates the majority of its sales in the US. Revenues totalled GBP411m and EBIT stood at GBP118m in fiscal 2016.

 

At the time, potential interested parties were also said to include US groups McCormick & Co., Conagra Brands, Pinnacle Foods and Campbell Soup Co.

 

Responding to yesterday's report, Sanford Bernstein analyst Andrew Wood said that he believes the business "would be interesting for a number of US companies". However, Wood said that he would be "surprised" and "disappointed" if Unilever were to pursue the acquisition.

 

"The acquisition would be margin accretive and, almost certainly, EPS accretive…but it would be organic growth and ROIC dilutive. Most importantly, it would be strategically odd...

 

more, including links

https://www.just-food.com/news/unilever-hormel-front-runners-for-reckitt-benckisers-food-unit_id137212.aspx