LONDON - Martin Glenn, former Pepsico UK president, has teamed with private equity firm CapVest in its bid for Unilever's Bird's Eye and Iglo brands.

It is thought the consortium has submitted a £970 million ($1.78bn; €1.39bn) first round offer for the frozen food brands. Final bids will go in by the end of August and Unilever expects to complete the sale by the end of the year