Privately-equity firm KKR has opted not to comment on rumors surrounding the potential sale of its Flora Food Group spreads assets.
The Financial Times reported on April 30 that KKR is currently collaborating with investment banks to explore the possibility of disposing of Flora Food Group. Unnamed sources cited a potential deal value of up to $10 billion, highlighting significant interest in the food and beverage industry trends.
Similarly, Flora Food Group, headquartered in Amsterdam, also refrained from commenting on the speculation when approached by Just Food. KKR completed the acquisition of Flora Food Group’s plant-based branded assets in Europe, the Middle East, and Africa (EMEA) in 2018. This strategic purchase was made from FMCG giant Unilever for approximately €6.8 billion ($7.9 billion today).
Previously, KKR was linked to a potential sale of Flora Food Group to Abu Dhabi’s sovereign wealth fund, although that deal ultimately fell through. The Flora Food Group portfolio includes popular brands such as its namesake spreads line, I Can’t Believe It’s Not Butter, Country Crock, Blue Band, Becel, and Violife.
The group, which rebranded from Upfield in 2024, generated around €3 billion in sales for the fiscal year 2025, as indicated on Flora Food Group’s official website.
In parallel, Flora Food Group is in the process of selling its assets in Latin America. Recently, Alicorp announced it had signed an agreement to acquire several businesses in this region. This transaction will allow the Peruvian consumer goods group to manage Flora’s operations across seven markets: Guatemala, Panama, the Dominican Republic, Colombia, Ecuador, Peru, and Chile.
Flora Food Group also declined to provide comments regarding the Latin America deal with Just Food. The transaction, which includes a manufacturing plant in Cali, Colombia, notably excludes Flora’s operations in Brazil and Mexico. Noteworthy brands in the region include La Danesa margarine, Dorina, and Bonella butter, as detailed in a statement from Bustamante Fabara, the legal adviser to Alicorp for Ecuador.
As the food and drink business continues to evolve, these developments reflect broader food and drink consumer trends, making it crucial for industry stakeholders to stay informed. For more insights on the business landscape, consider exploring B2B marketing solutions that excel in engaging professionals across multiple platforms.
