Unilever Looks to Sell Several Food Brands with Combined Sales of 1 Billion Euros
Unilever is planning to sell several food brands with a combined sales value of around 1 billion euros, according to an interview with Chief Executive Officer Hein Schumacher with Dutch financial daily FD. The company wants to streamline its food business and focus more on its top 30 “power” brands.
Unilever has been exploring the sale of some of its Dutch food brands, including Unox soups and Conimex seasonings, as well as smaller brands in the UK and other European countries. This move is part of the company’s efforts to recalibrate its operations and focus on its core businesses.
Schumacher aims to slim down the company’s rather eclectic portfolio of food brands, with a focus on sauces, condiments, and products for restaurants and other professional kitchens. However, he emphasized that not every brand that does not fit this description will be sold, as the company will retain some brands that are not a perfect strategic fit.
“We are not conducting a fire sale. There will always be brands that are not a perfect strategic fit, but that will remain part of Unilever,” Schumacher said.
