Unigate has said it is looking for an acquisition worth more than £150m – possibly in European food or distribution. Yesterday it announced it is buying the UK and Italian margarines and spreads businesses of Kraft for £77m. The move will pitch it into more direct competition with Unilever in the UK. Unigate plans to restructure Kraft’s Liverpool-based manufacturing operation.
Kraft owns brands such as Vitalite and Golden Churn in the UK. It will now concentrate on its core interests of coffee, confectionery, cheese and groceries.
- The Financial Times 9/7/96 page 17
- The Daily Telegraph 9/7/96 page 25, page 26
- The Times 9/7/96 page 27
- The Independent 9/7/96 page 17
- The Guardian 9/7/96 page 20
