Unilever Seeks Bidders For Ragu Pasta-sauce Brand : Report

(RTTNews) - Anglo-Dutch consumer goods giant Unilever Plc. (UL, ULVR.L, UN) has begun the process of seeking bidders for its Ragu pasta-sauce brand by hiring advisers and contacting potential acquirers, Bloomberg reported on Monday citing people familiar with the matter.

Quoting one of the people, the report indicated that the company has hired Morgan Stanley to sell the unit.

Unilever last week contacted many of the companies that were approached when the company sold Wish-Bone dressings last year. It expects to sell the brand for between $1.5 billion and $2 billion, the report said citing two of the people.

HJ Heinz Co., acquired by Berkshire Hathaway Inc. and 3G Capital last year, is among the companies contacted, the report indicated.