Unilever weighs $2bn sale of Ragu sauce brand

British-Dutch multinational company Unilever is looking at options to sell its Ragu pasta sauce bran…

British-Dutch multinational company Unilever is looking at options to sell its Ragu pasta sauce brand for $2bn.

The company has appointed Morgan Stanley to manage the sale process, reported Bloomberg citing sources familiar with the matter.

Last week, Unilever contacted various companies, including HJ Heinz, Kraft Foods and Pinnacle Foods, over the proposed sale.

The latest plans are in line with the Dutch firm's ongoing strategy to focus on brands that can expand across various markets.

In February, Unilever signed a deal to sell its meat snacks business to US beef jerky group Jack Link's. In January, it agreed to divest Royal pasta brand in the Philippines to RFM for $47.8m.