Unilever looked set to end its 63-year association with Birds Eye today after agreeing to sell most of its European frozen foods business for £1.16bn (€1.7bn).

Private equity group Permira was today said to be poised to make a bid for the frozen foods arm of Unilever which includes Birds Eye.

A CONSORTIUM of private equity firms was yesterday reported to be preparing a €1.4 billion bid for Unilever’s frozen foods arm which includes Birds Eye.

The owner of frozen-food firm Birds Eye confirmed today it was selling the business and other European operations.

Consumer products giant Unilever conceded today that price cuts and an advertising blitz had failed to return sales in Europe to growth.