"Unilever is valued at almost 100bn, and its food unit, which includes brands such as Knorr, could be worth tens of billions of pounds."
"The board believes foods is a highly attractive business, with a strong financial profile led by market-leading brands in growing categories."
"Earlier this year, Fernando Fernandez, the chief executive of Unilever, said that the company was looking to shift away from food."
"Unilever has also disposed of brands including The Vegetarian Butcher and the healthy snacking brand G."
Unilever is negotiating a potential merger of its food business with McCormick, a US-based spice maker. Unilever's food unit, including brands like Knorr, is valued at tens of billions. McCormick is valued at about $15 billion. Unilever has received an offer for its food business and is considering an all-stock deal. The company aims to concentrate on beauty and personal care, having previously divested from its ice-cream, spreads, and tea businesses. There is no certainty that a transaction will occur.
Read at www.theguardian.com
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