Food
In the fallout of Kraft Heinz’s failed Unilever acquisition, the intended target launched a range of plans to appease its shareholders. It will cut costs in the next few years, buy back stock and sell its margarine division.
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British-Dutch food company Unilever wants to sell seven billion euros' worth of assets, including well-known brands like Becel. This should increase shareholder value, following Kraft Heinz' failed take-over bid.
Six major multinationals, including Coca-Cola, Mars and Mondelez, are working on a new label to inform consumers about their products' nutritional value.
For the next four years, Wageningen Universiteit and ten companies, including Unilever, will use an existing technique to develop a new meat replacement.
General
Unilever's board is apparently in turmoil, split over how to go forward. The British shareholders would like to focus on shareholders' value, while the Dutch prefer a sustainable, steady course for the future.
Kraft Heinz has decided to no longer pursue a Unilever acquisition. It had tabled a bid of more than 130 billion euro late last week, but the parties did not come to an agreement.
Unilever experienced a rugged fourth quarter, with results below the market's expectations despite underlying growth. This was only achieved through price hikes, because volumes are dropping.
Over the past weekend, Unilever revealed all of its plastic packaging will be recyclable, reusable or compostable by 2025. Previously, the company had already promised to lower its use of plastic.
Cosmetics
Unilever has reached a deal to acquire Living Proof, a hair care product manufacturer, for an undisclosed fee. It is mostly known for its biomedical research into hair problems.
Food producing giant Unilever has agreed to a new collaboration with the European Vegetarian Union, meaning it will apply the V label on about 500 items, indicating these items are suitable for vegetarians.
Unilever has seen its third quarter turnover grow because of higher prices, while its volume sold dropped slightly.
British supermarket chain Tesco and Unilever are in an intense pricing argument as Unilever decided to increase the price of a group of items because of rising costs, but Tesco refuses to pay.
Unilever is set to acquire Seventh Generation, a company focused mainly on ecological cleaning agents, for about 700 million dollars (625 million euro).
Unilever bought Swedish air purifier manufacturer Blueair for an undisclosed fee. It says the company is the market leader when it comes to indoor air purifying technology.
Turnover in the first 6 months of 2016 dropped for Unilever, but that was entirely because of negative exchange rate fluctuations. If those are taken out of account, the company managed a decent turnover increase.
Unilever has acquired American start-up Dollar Shave Club, which has a subscription-based business model for shaving and toilet products. No fee was disclosed, but sources indicate it may be some 900 million euro.
