Goldman Sachs (GS) has been hired by Anglo-Dutch consumer goods group Unilever PLC (UN) to sell its Italian frozen-food business and will kick off the process sending out information memorandums within the next few weeks, people familiar with the situation told Dow Jones Newswires Thursday.

The auction is expected to attract several buyout firms, in particular those with existing investments in the sector, including Permira which will bid through Birds Eye Iglo Group, the European frozen-foods business it bought from Unilever in November 2006.

Lion Capital which already owns Findus Group, parent of Young's, Findus and Seafood Co., will also bid, people said.

Meanwhile, Unilever has been active buying up companies to complement its existing portfolio and in particular its personal care products, which includes brands such as Ben & Jerry's ice cream and Dove soap and Lynx deodorant.

Just last September the company bought the personal care division of U.S. Sara Lee Corp., which adds Brylcreem and Radox to the company's range of soaps. And earlier last year it bought Tigi, owner of Toni & Guy haircare products.

-By Marietta Cauchi, Dow Jones Newswires; +44 207 842 9241; marietta.cauchi@dowjones.com
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