KKR is exploring a potential sale of Flora Food Group in a transaction that could value the business at around $10bn, according to a report by the Financial Times, as the firm evaluates exit options for the portfolio company carved out from Unilever.
The US buyout group is reportedly working with advisers on a possible divestment of the Amsterdam-based spreads and margarine manufacturer, with interest expected from other private equity investors as well as potential strategic buyers.
Flora Food Group was originally acquired by KKR in 2017 as part of the €6.8bn purchase of Unilever’s global margarine and spreads division, then known as Upfield. The business was later rebranded to Flora Food Group in 2024.
The portfolio company includes well-known consumer brands such as Becel, Country Crock, Blue Band, and I Can’t Believe It’s Not Butter!, and generated approximately €3bn in net sales in 2025, according to its most recent reporting.
The potential sale would mark a significant monetisation event for KKR, which has held the asset since its carve-out from Unilever during a broader portfolio reshaping following a failed takeover approach for the consumer goods group in 2017.
Market sources suggest the asset has been stabilised into a standalone global consumer food platform over the holding period, with scale and brand recognition positioning it as an attractive target for both financial sponsors and strategic acquirers.
KKR has not confirmed timing or process details, and no final decision has been made regarding a sale, according to the report.
