Unilever considers potential separation of food assets

Unilever is in the early stages of considering a separation of its food assets to streamline its portfolio. Read more at straitstimes.com.

LONDON – Unilever, the maker of Hellmann’s mayonnaise, is in the early stages of considering a separation of its food assets as it looks for ways to further streamline its sprawling portfolio, people with knowledge of the matter said.

The Anglo-Dutch consumer group is speaking with advisers as it studies future options including a potential separation of most or all of the food business, the people said. It is in the preliminary stages of weighing possibilities such as spinning off the business as a whole, or keeping some marquee brands while separating the rest, though it may not pursue any deal before 2027, some of the people said. 

A transaction would likely value the Unilever food business at tens of billions of dollars, the people said, asking not to be identified because the information is private. The company has not made any final decisions and could opt to retain its current structure or pursue other alternatives, the people said. 

Unilever’s food assets could also attract interest from potential buyers, according to the people. A representative for Unilever declined to comment. 

Shares in Unilever are little changed in London trading in 2026, giving the company a market value of about £107 billion (S$182.4 billion). Unilever’s food brands include Colman’s condiments, Knorr stock cubes, Maille dijon mustard and Namdong instant noodles, as well as the savory Marmite spread that is loved and hated in equal measure. 

Under chief executive officer Fernando Fernandez, Unilever has continued to work on transforming itself from a group selling food to one focused on beauty, personal care and wellbeing. In 2025 it spun off its ice cream division into Magnum Ice Cream, keeping an almost 20 per cent stake that it will sell down in the coming years.