The owner of Birds Eye since the 1940s yesterday revealed it was considering its options for the business and other European frozen food operations.
Consumer products giant Unilever is likely to consider an outright or partial sale among a range of possible moves for the frozen food division, which trades in 11 European countries but has recently disappointed in terms of sales.
The study covers Birds Eye in the UK, where the company operates manufacturing facilities at Hull and Lowestoft, as well as the Findus and Iglo brands outside of the UK.
Unilever said today: "The frozen foods business has created considerable value for shareholders for a number of years. It has now been decided to investigate how best to maintain this for the future."
The division generated sales of 2 billion euros (#1.35 billion) in the last financial year, but Unilever said at its second quarter results earlier this year that business had been disappointing.
It added that it expected to see a "gradual improvement" because of increased activity in product development.
Unilever took control of Birds Eye in 1943 when it became the majority shareholder in Frosted Foods, which owned Birds Eye and the UK rights to a method of food preservation new to mass markets - deep-freezing.
The Lowestoft site specialises in frozen vegetables, while the facility at Hull is involved in fish meals.