Unilever mulls sale of historic British food brands - report

(Sharecast News) - Unilever is reportedly considering selling some of its best-known British food brands, including Marmite, as it refocuses on beauty and wellbeing. According to Reuters, citing three unnamed people with knowledge of the matter, the consumer goods giant is considering offloading mustard maker Colman's and Bovril as well as the divisive yeast extract.

It will, however, hold onto Pot Noodle, one of the sources said.

The package of British assets is thought to have revenues of around £200m, Reuters noted.

Unilever declined to comment on the report.

The Anglo-Dutch company owns around 400 brands, including market-leaders such as Dove, Lynx, Persil and Hellman's.

Its products are sold globally, but in line with many in the consumer goods sector, supply chain disruption and high inflation have squeezed margins in recent years.

Chief executive Fernando Fernandez - Unilever's former finance head - has been looking to strengthen sales and profits since taking over the role in February.

He is also pushing ahead with plans to move the group away from food towards beauty and personal care.

So far this year, Unilever has already announced the sale of The Vegetarian Butcher and personal care brand Kate Somerville as well as plans to spin off its ice cream business, home to Magnum and Ben & Jerry's.