B&G Foods and Pinnacle Foods are evaluating plans to acquire Unilever's American salad dressing brand Wish-Bone.
The sale, which is being managed by investment banking firm Goldman Sachs, is part of Unilevers' strategy to focus on its personal care business.
The deal could fetch about $400m to $500m, reports Reuters, citing sources familiar with the matter.
Wish-Bone was acquired by tea brand Lipton in 1958, from its owner Phil Sollomi. Unilever purchased Lipton in 1972.
The products under the brand are manufactured in the Kansas City. Wish-Bone's product range includes Light Asian Sesame Vinaigrette, Balsamic Vinaigrette, Creamy Caesar, Spring Onion Ranch, Romano Basil Vinaigrette and Frank's RedHot Buffalo Ranch among others.
The proposed divestment of Wish-Bone follows Unilever's sale of its Skippy peanut-butter business to Hormel Foods for $700m, earlier this year. In 2012, Unilever sold its North American frozen meals business to ConAgra Foods for approximately $265m.
This recall has been classified as Class II, which indicates a health hazard situation where there is a remote probability of adverse health consequences from the use of the product.
