Unilever is in talks to offload Marmite, Colman’s and Bovril in a major shake-up.
Selling the British brands could be part of boss Fernando Fernandez’s mission to turn the consumer goods giant around.
He took the helm in March and wants to focus on beauty and personal care brands, such as Dove and Vaseline, that have global reach. It is exploring a sale of Marmite, the yeast extract spread first manufactured in 1902 in Burton upon Trent, Staffordshire.
Fellow British household names Colman’s mustard and Bovril beef extract, would also be included in a sale. The brands have been owned by Unilever for at least 20 years. But Unilever would hold on to Pot Noodle, Reuters reported.
Together, the three brands reportedly have revenues of around £200 million. A sale would be the biggest disposal since Fernandez replaced Hein Schumacher, pledging to eradicate ‘pockets of mediocrity’.
Unilever is also understood to be keen to cling on to brands that are more popular across the world, including Hellmann’s mayonnaise and Knorr stock cubes.
Earlier this year, it spun off its ice cream division. The Magnum Ice Cream Company, which owns Cornetto and Ben & Jerry’s, will be floated in Amsterdam next month.
The float, which includes secondary listings in London and New York, was delayed due to the US federal shutdown. Fernandez has been cutting costs and exploring sales of brands amid weak consumer sentiment and economic uncertainty.
Unilever announced plans to cut 7,500 jobs in April and last month sold beauty brand Kate Somerville to pop star Selena Gomez’s Rare Beauty group.
It is reportedly trying to get rid of British healthy snack Graze, but it has also been acquiring trendsetters like British deodorant seller Wild and soap brand Dr Squatch. The founders of Ben & Jerry’s, which is part of the new ice cream spin-off, have demanded the brand be ‘released’ ahead of the listing.
Unilever bought it in 2000 but has long had a tense relationship with the ice cream firm, which is outspoken on social and political issues. Ben & Jerry’s claimed last year that Unilever had urged the brand to stop public criticism of Donald Trump.