Unilever announces results of business review
Spreads set for exit door as FMCG giant shakes up business in wake of Kraft Heinz takeover interest
Unilever announced the fruits of its business review - convened after the company brushed off interest from Kraft Heinz - yesterday (6 April). The Knorr and Magnum maker set out a measured plan, which included the wise decision to leave the spreads business. But could bolder action be on the horizon in the longer term? Dean Best reports.
Unilever CEO Paul Polman confirmed today (6 April) the Flora maker is "seriously considering a de-merger or spin-off" of its spreads division as an alternative to selling the business.
Unilever this morning (6 April) announced plans to "exit" the spreads category and part with its struggling Flora-to-Becel division, one of a series of ways the consumer goods giant believes it can "transform" the business and improve returns for shareholders.
Less than three days was all it took for Kraft Heinz's GBP112bn (US$139.1bn) takeover approach to Unilever to become public, be rejected and subsequently taken off the table. The attempt is likely to have some significant and far-reaching consequences for Unilever. Here, just-food takes a look at the impact the episode could have on the Dove-to-Knorr manufacturer.
Unilever rejected the GBP112bn (US$139.1bn) takeover approach from Kraft Heinz because the US group's proposed offer did not value the Knorr maker highly enough, the CFO of the UK-based consumer goods giant CFO has argued.
European consumer goods giant Unilever has announced it is launching a review of its operations in order to "accelerate" the value it can give to its shareholders.
Kraft Heinz has pulled its GBP112bn (US$139.1bn) takeover bid for consumer goods giant Unilever.
Unilever has indicated it will focus on margin acceleration in the coming year as it delivered lower sales but higher earnings against a backdrop of "severe economic disruptions" in 2016.
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