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September 28, 2017

Unilever to offload Greek olive oil assets in strategic refocus

Unilever plans to sell its olive oil assets in Greece as the company restructures its local product range to try to improve growth and profitability.

By Simon Harvey

Unilever plans to sell its olive oil assets in Greece as the company restructures its local product range to try to improve growth and profitability.

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The ELAIS-Unilever Hellas unit of the Anglo-Dutch consumer goods giant said on 26 September the sale concerns the brands Altis, Elanthi and Solon. Included in the proposed sale is the olive oil plant in Piraeus near Athens, along with the transfer of the affected employees.

Unilever’s exit from the Greek olive oil market follows the company’s April announcement that it planned to exit the spreads sector, which includes the Flora and Country Crock margarine brands. A number of proposals from potential buyers have reportedly been lodged but no deal as yet gone through, although the company did sell its South African spreads operation last week.

While the decision in Greece follows “the global re-evaluation of Unilever’s strategic choices for margarine”, the company said in a statement on its website the European nation remains a priority. The decision revolves around focusing on strategic categories and investing in new products in the local market, it said.

Reflecting its commitment to maintaining production sites in Greece, Unilever said it will transfer production of household care products to the Rentis factory in Athens.

A Singapore fund-KKR consortium was among those to express an interest in a Unilever spreads bid, along with Blackstone & CVC Capital Partners.

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Free Report
img

Unilever- A Deep-dive into Product Launches and Advertising Strategy

Unilever product advertising is mainly through mainstream TV channels. Out of the products advertised so far at least 50% (over 850) of ads have been run on TV, while print media comes second with 496 ads. Unilever also utilizes social media platforms for advertisement. Unilever products are categorized by innovation ratings and tags in our product launch database. The North American region consists of almost 74 products with innovations related to the formulation of the product. Europe and other regions also have more products categorized under formulation-related innovation, followed by the packaging and positioning of the products. Most Unilever products are tagged with “High Vitamins”, “Recyclable”, and “Natural” tags to understand what the product differentiator is from other products available in the market. The majority of products belong to the personal care industry with a total of 5,788 products to date. This report, through the Unilever Example, illustrates how GlobalData Explorer enables you to:  
  • Track product launches by FMCG companies to get an understanding of the product-level strategies including geographic concentrations, innovation types, product claim, category focus and more
  • Monitoring the advertising strategies of various brands and gain insights into channel focus, regional focus, and more
  • Perform company-level analysis to understand business model, size, and geographic focus
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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