Sources tell Bloomberg that Unilever () has .
UL has reportedly retained Morgan Stanley () to advise it on the sale of Ragu, which is expected to bring UL between $1.5 billion and $2 billion. UL has reached out to a number of possible suitors for Ragu, including Kraft Foods (),
Berkshire Hathaway’s (, ) HJ Heinz and Pinnacle Foods ().
Under CEO Paul Polman, UL has been moving to reduce its number of food brands. Last year, UL sold its Wish-Bone salad dressing business to Pinnacle Foods for $580 million.
UL shares fell about 2% in Monday mid-day trading, in a market moving sharply downward due to rising international tensions over the crisis in Ukraine. UL stock has risen less than 2% over the past 12 months.
