Unilever Eyes Sale of Food Brands With $1B in SalesUnilever Eyes Sale of Food Brands With $1B in Sales

Unilever is looking to sell several food brands that have combined sales of around 1 billion euros ($1.05 billion), Chief Executive Officer Hein Schumacher told Dutch financial daily FD in an interview published last week.

According to Reuters, Schumacher did not specify which brands Unilever wants to sell as part of its earlier announced plans to streamline its food business.

Sources told Reuters earlier this month the company was exploring the sale of some of its Dutch food brands, including Unox soups and Conimex seasonings, and was also trying to sell smaller food brands in Britain and other countries in Europe.

Unilever, home to about 400 brands worldwide, has over the past year been trying to recalibrate its operations to focus more on marketing its top 30 "power" brands and streamlining its business, particularly in Europe.

In March, the company revealed steps to accelerate its Growth Action Plan (GAP) through the separation of its Ice Cream portfolio, including Magnum and Ben & Jerry's, and the launch of a major productivity program, as well as cutting 7,500 jobs. The company just purchased Yasso frozen yogurt in November 2023.

Reuters reported that Schumacher told FD he aimed to slim down the "rather eclectic portfolio of food brands," with a focus on sauces, condiments, and products for restaurants and other professional kitchens.

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But not every brand that does not fit that description will have to go, he added. "We are not conducting a fire sale. There will always be brands that are not a perfect strategic fit, but that will remain part of Unilever," Schumacher said.