Thu, 06 Apr 2017 | DIVISION SALE
Household consumer goods giant Unilever is gearing up to sell off its margarine business, including the Flora and Stork brands, in a sale analysts say could fetch £4.8 billion.
The move is part of a shake-up at the group, which seeks to gain more returns for its shareholders and become “a leaner and more focused business”.
Chief executive Paul Polman said in a statement: “We feel that the changes we are announcing today will accelerate the transformation of Unilever and the delivery of sustainable shareholder value over the long-term.”
Its long-term business model, which they describe as “sustainable value-creation” is to remain the same. It will endeavour to increase its cost-cutting, aiming for a 20 per cent margin by 2020.
Unilever is certainly busy at the moment - it is also examining its dual-listed structure, which dates back to the 1930s when Britain’s Lever Bros merged with Dutch margarine manufacturer Unie.
Unilever rejected a £115 billion takeover bid from Kraft Heinz in February, as the bid was too low and takeover of little benefit. The company will also buy back £4.3 billion of shares in an attempt to smooth over irate investors after the bid rejection.
Food businesses for sale.
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