PRESS: Unilever considers splitting off food business - Bloomberg

(Alliance News) - Unilever PLC is in the early stages of considering a separation of its food assets as it seeks growth from beauty, personal care and wellbeing brands, Bloomberg reported late Tuesday.

Bloomberg sources said the London-based consumer goods firm, which owns Hellmann's mayonnaise and Marmite spread, is speaking with advisers as it studies future options for streamlining its sprawling portfolio, including a potential separation of most or all of the food business.

The report said this would sharpen Unilever's focus on brands such as Dove soap and Axe deodorant.

The company is in the preliminary stages of weighing possibilities such as spinning off the food business as a whole, or keeping some marquee brands while separating the rest, though it may not pursue any deal before 2027, Bloomberg sources said.

A transaction would likely value the Unilever food brands at tens of billions of dollars, the report added.

The company hasn't made any final decisions and could opt to retain its current structure or pursue other alternatives, Bloomberg added.

Unilever also owns food brands such as Colman's condiments, Knorr stock cubes and Namdong instant noodles.

Last year, Unilever spun off its ice cream division into Magnum Ice Cream Co, keeping an almost 20% stake that it will sell down in the coming years.

Shares in Unilever were down 0.8% at 4,840.00 pence each in London on Wednesday morning.

By Jeremy Cutler, Alliance News reporter

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