Kohlberg Kravis Roberts (KKR) has signed a binding agreement with Unilever to acquire the consumer goods giant’s global spreads business for nearly EUR 6.83 billion. The global investment firm will take over Unilever’s spreads unit, which comprises brands like Flora, Becel, Rama, ProActive, I Can’t Believe It’s Not Butter, Country Crock and Blue Band. The total turnover of Unilever’s spread business in 2016 stood at EUR 3.03 billion.
The divestment of the spread business will have some impact on PT Unilever Indonesia Tbk where its Blue Band is the leading margarine brand in the country. However, the impact will not be significant as the margarine brand’s contribution to Unilever Indonesia’s total revenue is only around 1.5%, said Unilever Indonesia Independent Director, Corporate Secretary and IR Contact Officer Sancoyo Antarikso reported Kontan.co.id.
The 1.5% translates into IDR 600 billion (USD 44 million) out of total revenue of IDR 40 trillion in 2016.
