Unilever To Sell Its Margarine, Spreads Unit

Like many big food companies, Unilever is struggling to keep with the times, and with evolving consumer tastes, preferences and health concerns. The latest manifestation of the strategic rethinking, revamping, cost-cutting process – spurred by the failed Kraft Heinz takeover bid in February – is its decision to sell its margarine and spreads business for a price upwards of $7.5 billion. In addition to cost cutting, the Anglo-Dutch multinational hopes to buttress returns by implementing a dividend boost and a share buyback. Unilever’s margarine and spread business includes familiar brands Country Crock and I Can’t Believe It’s not Butter. Other companies that have recently announced plans to divest or acquire businesses include Reckitt Benckiser, Danone SA, ConAgra Brands, Dr Pepper Snapple Group Inc., and PepsiCo Inc.  [ Image credit: © Wikipedia  ]