Earlier this year, KKR bought majority control of vitamin maker Nature’s Bounty.
He holds an M.A. By clicking “OK” below, I acknowledge that I have read and understood the following important information:Access to the KKR Investor Portal is provided to investors in Drawbridge Realty Partners, L.P. (the “Drawbridge Fund”) by Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, “KKR”) solely in KKR’s capacity as an administrator to the Drawbridge Fund and at the direction of Drawbridge Realty (“Drawbridge”). Unilever said last month it favored ending its dual Anglo-Dutch structure to become a single entity, but it has delayed a decision whether it would be based in Britain or the Netherlands. Additional reporting by Martinne Geller in London; Editing by Nick Zieminski and Elaine HardcastleFILE PHOTO: The company logo for Unilever is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., February 17, 2017. No person should rely upon the past performance or reputation of KKR or its investment products when considering any security offered by the Drawbridge Fund or Drawbridge.Timothy Franks (London) joined KKR in 2017 and leads the development of KKR’s activities in the UK & Ireland within the Private Equity platform, as well as the Consumer industry team in EMEA. This year Unilever has snapped up small brands including Tazo tea, Sundial Brands and Carver Korea. The maker of Knorr soup and Dove soap announced the deal on Friday, hours after Reuters reported that KKR had entered exclusive talks to buy the shrinking business after outbidding rivals. Unilever put the business up for sale in April, following a review of its assets prompted by February’s unsolicited $143 billion takeover attempt by Kraft Heinz (“The announcement today marks a further step in reshaping and sharpening our portfolio for long-term growth,” said Chief Executive Paul Polman. The deal with Unilever is expected to close mid-2018, subject to regulatory approvals and employee consultations.
Based in New York, KKR had $153 billion in assets under management as of the end of September. Unilever has agreed to sell its margarine and spreads business to U.S. private equity firm KKR for 6.83 billion euros ($8.04 billion) to concentrate on faster growing products. The firm has a long history in the consumer sector and it has investments in India’s Coffee Day Resorts and Chinese white goods maker Qingdao Haier.
Together they bring a wealth of complementary experience, knowledge and skills to build on Upfield’s strong legacy, and successfully lead the company into a new …
REUTERS/Brendan McDermid /File Photo UpField Group are strategic thinkers "UpField Group are strategic thinkers and problem solvers who have a broad understanding of the food and ag supply chain. … Prior to joining, Mr. Franks was a partner at Advent International based in London. from Cambridge University, and an M.P.P. He is currently chairman of the board of Upfield, formerly the spreads division of Unilever, is on the board of The Hut Group, and has recently been involved in the strategic partnership with JAB on Coty and Wella.
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Further, KKR is under no obligation to provide the Drawbridge Fund with investment opportunities and in many cases will be prohibited from doing so by KKR’s internal policies and procedures. He played key roles in prior investments including Webhelp and Afriflora. Information regarding the Drawbridge Fund accessed through the KKR Investor Portal is confidential and intended for Drawbridge Fund investors only. I am confident that under KKR’s ownership, the Spreads business with its iconic brands will be able to fulfil its full potential as well as societal responsibilities.” Nicolas Liabeuf, CEO of Spreads, who will continue to lead the business, added “There is a positive momentum in the performance of the Spreads business and we are excited about continuing this journey with KKR.
The brands to be sold include Becel, Flora, Country Crock and Blue Band.
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