KKR Said to Hold Flora Business for Longer to Tackle Debt Pile

KKR & Co.is now likely to hold onto the maker of Flora and Country Crock spreads until at least 2026, as it seeks to reduce its debt before any listing or sale, according to people familiar with the matter.

The private equity firm shelved a sale of Flora Food Group — previously called Upfield Group — last year, after negotiations on a $10 billion sale to Abu Dhabi’s sovereign wealth fund fell apart due to price disagreements. KKR was considering either an initial public offering or minority stake sale, with a listing to take place in 2025 at the ...