Upfield (f.k.a. Flora Food Group), the carve-out of Unilever’s Spreads Business.
Initial Commitment (12/31/2018) € 250 M
Capital Invested (12/31/2018) € 250 M
21 % Share in Sienna Capital’s portfolio (12/31/2018)
Registered office
Amsterdam, Netherlands
 
Profile

Is a global leader in plant-based nutrition with more than 100 brands, including Becel, Flora, Country Crock, Blue Band, I Can’t Believe It’s Not Butter, Rama and ProActiv. The company operates in 69 markets around the world, with number 1 brand positions in 49 countries. Upfield’s six business units cover Northwest Europe, Southwest Europe, Central/Eastern Europe, North America, Middle/Latin America and Asia/Africa. The company employs more than 3,500 Associates.

Stake value (12/31/2018) € 275 M
Investment case

In July 2018, Sienna Capital has invested EUR 250 million alongside KKR and other co-investors into Upfield, its first co-investment transaction. Sienna Capital is represented on the Board of Upfield by a senior member of GBL’s investment team.