M&A Deal Summary

KKR Acquires Upfield

On December 15, 2017, private equity firm KKR acquired food company Upfield from Unilever for 6.8B EUR

Acquisition Highlights
  • This is KKR’s 13th transaction in the Food sector.
  • This is KKR’s 11th largest (disclosed) transaction.
  • This is KKR’s 11th transaction in the Netherlands.

M&A Deal Summary

Date 2017-12-15
Target Upfield
Sector Food
Buyer(s) KKR
Sellers(s) Unilever
Deal Type Divestiture
Deal Value 6.8B EUR

Target

Upfield

Rotterdam, Netherlands
Upfield produces plant-based butter and spreads. The Company sells its products in over 95 countries and has 16 manufacturing sites throughout the world. Upfield is based in Rotterdam, Netherlands.

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Buyer(S) 1

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1976
PE ASSETS 510.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 259 of 483
Sector (Food) 13 of 16
Type (Divestiture) 30 of 53
Country (Netherlands) 11 of 17
Year (2017) 40 of 41
Size (of disclosed) 11 of 104
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-13 Joulon

Dubai, United Arab Emirates

Joulon offers comprehensive asset management services to the energy industry through its portfolio of established manufacturers and service providers, complemented by a global team of experts with decades of asset ownership and management experience. The platform provides a complete range of offerings from individual products and services to integrated end-to-end asset management solutions. Joulon was founded in 2016 and is based in Dubai, United Arab Emirates.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-20 Afriflora

Aalsmeer, Netherlands

Afriflora is a supplier of quality roses at fair trade standards to Europe. Established in 2005 by the Barnhoorn family, Afriflora has over 11,000 employees. The Company is headquartered in Aalsmeer, Holland and operates three farms in Ethiopia covering 500 hectares. It cultivates, produces and sells over 1.1billion stem roses annually with the majority of these to the European market.

Sell -

Seller(S) 1

SELLER

Unilever

London, United Kingdom

Category Company
Founded 1894
Sector Consumer Products
Employees148,949
Revenue 50.7B EUR (2020)
DESCRIPTION

Unilever is a multinational consumer goods company. Its products include food, beverages, cleaning goods and personal care products. Unilever was founded in 1894 and is based in London, United Kingdom.


DEAL STATS #
Overall 21 of 23
Sector (Food) 10 of 10
Type (Divestiture) 21 of 23
Country (Netherlands) 4 of 5
Year (2017) 1 of 1
Size (of disclosed) 1 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-14 Schmidt’s Naturals

Portland, Oregon, United States

Schmidt’s Naturals is a personal care company based in Portland, Oregon. Schmidt’s natural deodorants include award-winning formulas derived from plants and minerals. Its most popular variants include Charcoal + Magnesium, Rose + Vanilla, Lavender + Sage, as well as fragrance-free offerings.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-25 Equilibra Srl

Turin, Italy

Equilibra Srl has a growing presence in the so-called ‘natural’ personal care segments, offering Skin Care and Hair Care ranges; and is a leading player in nutritional supplements in Italy. Equilibra has a product offering and proposition based on its authentic Italian credentials; using plant-based ingredients with functional benefits, such as Aloe, Karite’, Argan and Almond.

Buy -