Unilever Foodsolutions NA

The Company

Unilever Foodsolutions NA (Unilever) operates a Custom Dry Seasonings business (the Business) that is a leading developer, manufacturer, and marketer of a wide variety of custom dry seasonings to restaurant chains and food product manufacturers that utilize the seasonings in their own unique food products such as meats, sauces, desserts, drink mixes, and soups. Headquartered in Germantown, Wisconsin, the Business is one of the leading suppliers of custom dry seasonings for restaurant chains in the United States.

The Situation

Due to a shift in strategic priorities, Unilever decided to seek a buyer for the Business and engaged KPMG Corporate Finance as its exclusive adviser for the potential sale.

THE TRANSACTION
KPMG Corporate Finance conducted a competitive sale process to identify strategic acquirers that would enable Unilever to exit the dry seasonings business while creating the least possible disruption for its customers. KPMG Corporate Finance developed significant buyer interest, coordinated management meetings and due diligence, and assisted Unilever in successfully negotiating a transaction with Kerry Group PLC. Throughout the sale process, we advised Unilever on all aspects of the deal, including purchaser identification, due diligence requirements, deal pricing, and structuring issues. KPMG Corporate Finance pursued an aggressive time line to assist in completing this transaction, which was completed within the time frame and appropriate transaction value to meet Unilever’s objectives.