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Unilever to sell its food brands with annual sales of about 1 billion euros

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Unilever Chief Executive Officer Hein Schumacher said in an interview that the company is looking to sell several of its food brands, which have combined sales of about 1 billion euros ($1.05 billion).

 

Schumacher did not specify which brands Unilever wants to sell as part of a plan it announced earlier to streamline its food business.

 

Unilever is exploring the sale of some of its Dutch food brands, including Unox soups and Conimex seasonings, and is trying to sell smaller food brands in the U.K. and other European countries, sources revealed earlier this month.

 

Unilever owns about 400 brands globally. Over the past year, the company has been trying to restructure its business, focusing more on marketing its top 30 "impact" brands and streamlining its operations, especially in Europe. In March, Unilever said it would divest its ice cream unit, which owns brands such as Magnum and Ben & Jerry's, and said it would continue to focus on its 30 "influencer" brands and streamline its operations, especially in Europe.

 

In the interview, Schumacher said his goal was to streamline a "fairly eclectic portfolio of food brands" and focus on sauces, condiments and products for restaurants and other specialty kitchens.

 

But he added that not all brands that don't fit that description have to exit.

 

"We're not doing a dump. There will always be brands that are not a perfect strategic fit, but they will still be part of Unilever," Schumacher said.


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