Unilever set to sell in Italy

The Findus Italy business has attracted early interest from private equity groups Permira and Lion Capital, the owners of Birds Eye Iglo and Findus Group respectively, it was reported.

The Italian business is the only part of Unilever's European frozen food operations it kept when it sold Birds Eye Iglo – renowned for its fish fingers – to Permira in 2006.

Unilever opted not to sell the business four years ago because of its integration with its Italian ice cream arm, which makes Cornetto and Viennetta, but the decision is thought to have been reversed by chief executive Paul Polman.

Both Permira and Lion – which bought Findus Group in 2008 – are said to have appointed advisers ahead of sale information which is due to be circulated in the next two weeks.

Unilever was unavailable for comment.