Anglo-Dutch food and consumer giant Unilever said Friday it had reached a 6.8-billion-euro ($8-billion) deal with US private equity giant KKR to sell its margarines business.

Unilever "has received a binding offer from KKR to purchase its global spreads business for 6.825 billion euros on a cash-free, debt-free basis," the company said in a statement. After spurning a takeover by US rival Kraft Heinz in April, Unilever announced it would spin-off its margarines, which include such brands as Flora, Blue Band and Rama, as part of a restructuring plan