KKR Shelves $10 Billion Upfield Sale After ADQ Talks Fall Apart

Private equity firm KKR & Co.is shelving a sale process for Upfield, the maker of Flora and Country Crock spreads, that was seeking to raise about $10 billion, people with knowledge of the matter said.

The buyout firm decided to pursue other options after negotiations on a sale to Abu Dhabi sovereign wealth fund ADQ fell apart due to price disagreements, the people said. Upfield drew only muted interest from private equity bidders, according to the people, who asked not to be identified because the information is private.

KKR may now hold onto the business for longer and is ...