<article>Publicly listed consumer goods manufacturer <a href="https://www.dealstreetasia.com/tag/Unilever-Indonesia">PT Unilever Indonesia</a> is selling its food spreads business to private equity firm <a href="https://www.dealstreetasia.com/tag/KKR-&amp;-Co/">KKR &amp; Co</a>. for $210 million, it said in an official release.</article>

Publicly listed consumer goods manufacturer <a href="https://www.dealstreetasia.com/tag/Unilever-Indonesia">PT Unilever Indonesia</a> is selling its food spreads business to private equity firm <a href="https://www.dealstreetasia.com/tag/KKR-&amp;-Co/">KKR &amp; Co</a>. for $210 million, it said in an official release.
The decision was made in a shareholders meeting on Thursday that discussed KKR&#8217;s offer to Unilever&#8217;s global management &#8211; Unilever NV and Unilever Plc. – made in December last year, including the purchase of spreads commercialized by Unilever Indonesia.
The spreads businesses comprise intangible assets of global trademark Frytol, Blue Band Master and Blue Band and the domestic trademarks for Samin Oil and Blue Band Gold.
According to Unilever Indonesia president director Hemant Bakshi, the sale of the spreads business will allow it to focus on growth and innovation.
“This business separation marks the next step in reshaping and sharpening our portfolio for long-term growth,” he said.
Along with its spreads business, Unilever Indonesia said it would also sell its production assets, equipment, inventory and its factory building in Cikarang, West Java, that is used to produce butter and margarine products.
Following the completion of the transaction, which is expected to be finalised in July, the businesses would be handled by KKR subsidiaries.
The announcement of the deal comes as the PE giant has been reported to be in discussions to acquire a controlling stake in Bengaluru-based packaging solutions company Manjushree Technopack.
In May, this portal reported that KKR &amp; Co had agreed to acquire Houston-based BMC Software Inc. in a deal that valued the information technology management provider at about $8.3 billion including debt.
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According to Unilever Indonesia president director Hemant Bakshi, the sale of the spread business will allow it to focus on growth and innovation

Unilever Indonesia sells food spreads business to KKR for $210m

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Unilever Indonesia sells food spreads business to KKR for $210m

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