(Corrects first paragraph to show company is second-biggest consumer-goods maker.)

Oct. 13 (Bloomberg) -- Unilever, the world’s second-largest consumer-goods company, sees more opportunity for acquisitions as the pace of consolidation in the industry increases, Chief Executive Officer Paul Polman said.

“Times are good right now” for acquirers, Polman, who became CEO in January, said on the sidelines of a conference in London today. “There are good brands out there. We’ll see even more consolidation than before,” he said, adding that Unilever is “always looking” at takeover opportunities.

Polman last month broke Unilever’s nine-year streak of avoiding major acquisitions by offering to buy Sara Lee Corp.’s personal-care and European detergent unit for 1.28 billion euros ($1.9 billion) in cash. With Sara Lee, London- and Rotterdam- based Unilever has “sharpened its value equation” with a range of cheaper products, Polman said today.

The purchase takes Unilever’s “bolt-on” acquisitions for this year to about 2 billion euros, the target it had announced at the start of the year, he also said. Further acquisitions would be made from cash left over after the company pays its dividend and spends money on innovation for existing brands, Polman said, declining to specify an amount.

The CEO said he is “very happy” with Unilever’s A+ credit rating and wants to maintain it. Polman, who said he has changed 40 of the company’s top 100 staff, took over the reins of the company at the start of this year.

Prudence

Unilever shares fell 1 percent to 20.22 euros in Amsterdam today, their first drop in six sessions. They have added 17 percent this year.

Polman has a “prudent” view on the outlook for economic recovery, according to his earlier speech at the conference. “Over the last ten years the industry benefited from booming economies. You have to be careful. The amount of deleveraging that has to be done is enormous.” He said U.K. household budgets are likely to remain “tight for some time.”

Unilever, maker of Dove soaps and Hellman’s mayonnaise, gets about 51 percent of its revenue from developing markets. It expects an increase in the flow of brands from those areas to the west, Polman said, citing toothpaste- whitening innovation, which came from Asia.

“The next 1 billion consumers will come from” developing markets, where “Unilever is very well placed,” he said. “Before it was seen as risky, now it’s an advantage.”

Russia will continue to be a “focus market” for future growth, the CEO said. Markets such as India, China and Thailand are still growing, in contrast to volume declines in some more mature markets, he added. “Perhaps it’s at a little lower level than before but they are still showing growth and have a tremendous opportunity to grow further.”

To contact the reporter on this story: Andrew Cleary in London at acleary7@bloomberg.net

Last Updated: October 13, 2009 14:10 EDT