KKR struggles with Flora Food Group carve-out from Unilever
Updated
Updated · Bloomberg · May 11
KKR struggles with Flora Food Group carve-out from Unilever
11 articles · Updated · Bloomberg · May 11
KKR paid €6.8 billion in 2018 for the business, after bidding interest from Apollo, Blackstone, CVC and others helped drive up the price.
The deal highlights how corporate carve-outs, prized by buyout firms as turnaround opportunities, can prove far harder to separate and improve than expected.
Unilever was offloading a poorly performing division, underscoring the risks for private equity buyers betting they can extract value faster than large conglomerates.
After its Flora 'buyout remorse,' can KKR secure a profitable $10 billion exit from the high-debt food group?
KKR's food deal soured, yet it still champions carve-outs. What is the firm's new playbook for these risky deals?