Upfield
OVERALL |
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Owned |
USA |
Rating |
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Plant-based spreads
Largest plant-based consumer product company in the world, operating in 95 countries. Created in 2018 when KKR bought Unilever's spreads business.
Company Ownership
Upfield Holdings BV | NLD | website | ||||
Kohlberg Kravis Roberts & Co LP ![]() owns 100% of Upfield Holdings BV |
USA | website | ||||
Private equity firm One of the world's largest private equity firms. Listed on the New York Stock Exchange in 2010. Acquired Unilever's spreads business in 2017 for 6.83bn euros. Acquired Campbell Soup Co's international operations (including Arnott's) in 2019. |
Company Assessment
PRAISE | CRITICISM | INFORMATION | ||
Upfield Holdings BV | ||||
This company has sustainability claims on its website under the headings responsible sourcing, palm oil and deforestation.
Source: company website (2019)
This company is a member of How2Recycle. The How2Recycle Label is a voluntary, standardized labeling system that clearly communicates recycling instructions to the public. It involves a coalition of forward thinking brands who want their packaging to be recycled and are empowering consumers through smart packaging labels. Companies must be a member of the program to use the How2Recycle Label.
Source: How2Recycle (2020)
California, the UK and Australia have all enacted legislation requiring companies operating within their borders to disclose their efforts to eradicate modern slavery from their operations and supply chains. Follow the link to see this company's disclosure statement.
Source: Modern Slavery Registry (2019) |
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Kohlberg Kravis Roberts & Co LP | ||||
This company is listed as having best practice on a report card on lesbian, gay, bisexual and transgender equality in corporate America.
Source: Human Rights Campaign (2020) |
In 2005, Toys "R" Us was purchased in a US$6.6 billion leveraged buyout by private equity firms Bain Capital, KKR, and Vornado Realty Trust. While Toys "R" Us' revenues remained steady over the next 13 years - US$11.1 billion in sales in 2017 - the retailer was saddled with debt it couldn't repay. By 2007, 97% of the company's operating income was consumed by interest, which left the company unable to upgrade technology or evolve its business model. The heavy debt load eventually led Toy "R" Us to file for bankruptcy in 2018. The company liquidated in June of 2018 and closed their remaining 800 stores. Over 33,000 employees of the company lost their jobs and their severance payments in bankruptcy court. The PE companies controlling the Toys "R" Us bankruptcy refused buyers that would have saved thousands of jobs and instead chose liquidation to maximize the financial extraction. The private equity firms that owned Toys "R" Us collected more than $470 million in fees and interest from the retailer over the ownership period, while a total of 64,000 jobs were lost.
Source: United 4 Respect (2019)
This company received a score of 10/100 in the Newsweek Green Rankings 2016, which ranks the world's largest publicly traded companies on eight indicators covering energy, greenhouse gases, water, waste, fines and penalties, linking executive pay to sustainability targets, board-level committee oversight of environmental issues and third-party audits. Ranking methodology by Corporate Knights and HIP Investor.
Source: Newsweek (2016)
In 2014, this company, together with other private equity firms Blackstone and TPG, agreed to pay US$325m to settle a lawsuit that accused seven private equity groups of conspiring to fix the prices of some of the world's biggest leveraged buyouts.
Source: Financial Times (2014)
On 29 June 2015 the U.S. Securities & Exchange Commission charged this company with misallocating more than US$17m in 'broken deal' expenses to its flagship private equity funds in breach of its fiduciary duty. KKR agreed to pay nearly US$30m to settle the charges, including a penalty of US$10m.
Source: US SEC (2015)
JUST Capital polls Americans every year to identify the issues that matter most in defining just business behaviour. For their 2021 rankings the public identified 19 issues, which are organised under the headings Workers, Communities, Customers, Shareholders and Environment. JUST Capital then define metrics that map to those issues and track and analyse the largest, publicly traded U.S. companies. This analysis powers their rankings, in which this company ranked 758th of 928 companies, and 31th of 35 Capital Markets companies.
Source: JUST Capital (2020) |
This investigative report by China Labour Watch reveals how KKR turns a blind eye to the human impact of the massive production outsourced by Dollar General and other companies in its portfolio. CLW Executive Director Li Qiang states that DG has 'the worst labor performance in China of all major US retailers'. [Listed under Information due to age of report]
Source: China Labour Watch (2009)
This company has environmental, social and governance (ESG) claims on its website.
Source: company website (2016)
California, the UK and Australia have all enacted legislation requiring companies operating within their borders to disclose their efforts to eradicate modern slavery from their operations and supply chains. Follow the link to see this company's disclosure statement.
Source: Modern Slavery Registry (2016) |
Company Details
Type | Wholly-owned subsidiary |
Contact Details
Address | Amsterdam, Netherlands |
Website | www.upfield.com |
Products / Brands
Upfield
Bertolli Butter & Margarine Flora Butter & Margarine ProActiv Butter & Margarine |