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Unilever sells European frozen food assets [08/29/2006]

Unilever sells European frozen food assets

AMSTERDAM, Netherlands (UPI) -- Unilever, the Dutch consumer products group, is selling its Iglo and Birds Eye frozen foods businesses to a private investor group for $2.21 billion.

Permira beat out Findus and other rivals to buy the Unilever assets, which are in Britain, Austria, Belgium, France, Germany, Ireland, the Netherlands and Portugal, the Times of London reported Monday.

"Having taken the decision to focus our portfolio on other priorities, I am confident that the business will prosper under the dedicated and focused management that Permira will bring," Patrick Cescau, Unilever's group chief executive.

Copyright 2006 by United Press International

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