The Strategist

Unilever to spin off ice cream production into a separate company



03/20/2024 - 09:07



One of the biggest FMCG companies in the world, British-Dutch Unilever, intends to split off its ice cream division into a different business.



Anton Porsche
Anton Porsche
The procedure will start soon and be finished by the end of 2025.

In 2023, Unilever's ice cream division brought in €7.9 billion in revenue. Among the top ten global brands owned by the division are Wall's, Magnum, and Ben & Jerry's.

Following the separation, the corporation will be divided into four segments: food, household items, cosmetics, and personal care. The management anticipates a moderate rise in profitability together with underlying sales growth of 4-6% (mid-single digit) in these divisions.

The management of Unilever also unveiled a productivity enhancement initiative that is expected to save roughly €800 million over the following three years. In order to increase efficiency, the program calls for the establishment of operations centers, the standardization of manufacturing procedures, and the adoption of new technology.

Approximately 7.5 thousand of the company's employees, primarily those in office roles, may be impacted by the program globally.

source: bloomberg.com

 




More
< >

Wednesday, April 17th 2024 - 08:20 UBS may need to increase its capital by up to $25 bln