Iconic brands could be sold by Unilever

ICONIC brands such as Marmite, Colman’s and Bovril, could be sold by Unilever as the group consider to focus on beauty and wellbeing.

Consumer goods giant Unilever, which has an Irish base in Citywest, did not comment on the news this week, but insiders say they are considering the move.

Efforts to simplify Unilever’s portfolio mirror moves by competitors such as Nestle, which has put its water business up for sale and has underperforming vitamin brands under review, and Kraft Heinz, which is breaking up.

Marmite, a century-old yeast-based spread which divides opinion is potentially up for sale, but Unilever will keep Pot Noodle, sources told Reuters.

The package of British assets, which includes Colman’s and Bovril beef extract, is estimated to have revenues of about £200m, one of the people said.

Selling Marmite, Colman’s and Bovril would be Unilever’s most significant disposal since Fernando Fernandez became CEO in February with a mandate to speed up its turnaround strategy.

Market forces have led to squeezed profit margins for consumer conglomerates due to supply-chain crunches and high inflation.

The brands Unilever are considering putting on the block have widespread recognition – owned by the company for at least 20 years.

Colman’s is more than 200 years old.