Unilever is hoping to attract private equity interest in its ice cream division, having announced plans to sell the business, which includes Wall’s, Magnum and Ben & Jerry’s, and is working with advisers to sound out potential purchasers, according to a report by the Financial Times.
The report cites unnamed sources familiar with the matter as confirming that bankers at Morgan Stanley and JPMorgan have contacted buyout investors over a potential deal, although discussion remain at a preliminary stage.
According to the FT’s sources, the business could be valued between €10bn and €15bn in any deal, although Barclays has reportedly estimated the ice cream unit could be worth as much as €17bn.
The plan to hive off the ice cream division is part of a turnaround plan announced earlier this week by Chief Executive Hein Schumacher which also includes axing some 7,500 jobs.
