Unilever Frozen Foods

The Company

Unilever Foodsolutions NA (“Unilever”) operates a Custom Frozen Products business (the “Business”) that is a leading developer, manufacturer, and marketer of custom frozen soups, sauces, gravies, and entrée items for major restaurant chains.  Headquartered in Lisle, Illinois, the Business is one of the leading suppliers of custom frozen products 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 advisor 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 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 Siméus Foods International, Inc., a portfolio company of the private equity fund Levine Leichtman Capital Partners.  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 timeline to assist in completing this transaction, which was completed within the time frame and appropriate transaction value to meet Unilever’s objectives.