Unilever turns to ‘avocado mayonnaise’ as food weighs on profit ahead of spin-off Retail Unilever has turned to novel products including “avocado mayonnaise” in a bid to boost ailing sales in its food arm, which is poised to be spun off in a £33bn deal. The consumer goods giant upgraded its sales expectations but saw the performance of its food business and European operations drag on the group’s operating [...]
Star stockpicker Terry Smith dumps entire Unilever holding after McCormick mega-merger Retail One of Britain’s best-known fund managers has dumped his holding in Unilever worth hundreds of millions of pounds, accusing the consumer goods giant of abandoning its traditional shareholders in favour of activist-driven deals like last month’s McCormick mega-deal. Terry Smith, the star stockpicker behind the £12.5bn Fundsmith Equity Fund, sold out of his position in [...]
Unilever beats analyst expectations but food spin-off costs up to €500m Retail Unilever beat analyst expectations to record nearly three per cent volume growth, despite a €500m hit from its food spin-off and falling revenue. The FTSE 100 consumer goods giant said it will face between €400m and €500m (up to £433m) of “stranded costs” after it offloaded its food brands – including Marmite and Hellman’s – [...]
Marmite maker Unilever creates food empire in $45bn merger March 31, 2026 Unilever has sealed a $45bn merger of its food brands with US spice and seasoning giant McCormick, forging a $60bn food empire in which the London-based firm holds a majority stake. Unilever and its shareholders will own 65 per cent in the new body, with the firm receiving $15.7bn (£11.6bn) in cash and the equivalent [...]
Unilever rushes to sell underperforming food labels as it focuses on ‘power brands’ March 11, 2025 Unilever will speed up the sale of its underperforming labels and focus on its 30 power brands, according to its chief executive. Fernando Fernandez said the FTSE-100 company would act at a “faster pace” and that the firm has around €1bn (£840m) of brands in its Foods Europe division, which “don’t fit well” with its company’s portfolio. [...]
Unilever CEO Hein Schumacher makes surprise resignation February 25, 2025 Unilever chief Hein Schumacher has unexpectedly resigned after less than two years in the role, as the company attempts to push forward with its cost-cutting programme. Schumacher will be succeeded by Unilever’s financial chief Fernando Fernandez from next week and leave the firm at the end of May, the firm said. The news comes amid [...]