US private equity firm Kohlberg Kravis Roberts (KKR, Europe: London / UK; www.kkr.com) has agreed to acquire the global Spreads business of the Dutch-UK consumer goods giant Unilever (London / UK and Rotterdam / The Netherlands; www.unilever.com) for EUR 6.8 bn on a cash-free, debt-free basis. Subject to regulatory approvals, the transaction is expected to close in mid-2018. The sale is the result of Unilever's 2020 programme to accelerate sustainable value creation. Nicolas Liabeuf will continue as CEO of the Spreads business, which includes brands such as "Becel", "Rama" and "ProActiv".

In Europe and the US, Unilever has been suffering from declining sales in the margarine segment for years, and already announced the sale of the division in April 2017. The unit posted a turnover of EUR 3 bn in 2016.

Unilever is pursuing a sustainability strategy that includes a commitment to using only reusable, recyclable or compostable plastics in its packaging by 2025 – see Plasteurope.com of 26.01.2017. By 2020, the company has pledged to reduce the weight of the packaging it uses by a third and increase the use of recycled plastic content to at least 25% by 2025, against a 2015 baseline. According to Johannes Huth, CEO of KKR EMEA, the sustainable strategy will be continued under the new ownership structure.