Anglo-Dutch consumer goods group Unilever PLC (UN) announced Monday it is looking for a buyer for its Italian frozen foods business Findus, confirming earlier media reports.

"Frozen foods is no longer a core product area for Unilever and any sale allow us to increase investments in brands which will deliver higher levels of growth," said Unilever's chairman in Italy, James Hill.

Findus's annual sales amount to roughly EUR450 million and the business has a factory in Cisterna, Italy.

On April 15, Dow Jones Newswires reported that Goldman Sachs Group Inc. (GS) was hired by Unilever to sell its Italian frozen foods business, with the sale expected to attract interest from several buyout firms, including Permira. Lion Capital, which already owns Findus Group, parent of Young's, Findus and Seafood Co., would also bid, people familiar with the situation said.

A Unilever spokesperson declined to comment on which parties have expressed an interest or when it aims to finalize the divestment.

-By Anna Marij van der Meulen, Dow Jones Newswires; +31-20-5715 201; annamarij.vandermeulen@dowjones.com
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