2024-03-21 01:11:35
The consumer giant Unilever is separating from popular ice cream brands and reorganizing the division. The renovation is expected to save around 7,500 jobs.
The consumer goods manufacturer Unilever wants to separate itself from its ice cream brands such as Magnum and Langnese and spin them off into an independent company. The company announced on Tuesday in London that the aim is to concentrate on a portfolio of “brands with strong positions”. Accordingly, the restructuring should lead to the group growing more strongly and becoming more profitable.
The division is expected to be spun off by 2025. According to information, the ice cream division had sales of 7.9 billion euros last year with brands such as Magnum, Langnese, Ben & Jerry’s and Cornetto. Group-wide sales last year amounted to 59.6 billion euros.
Unilever wants to save 800 million
In order to maximize returns for shareholders, “other options for separation” should also be considered. In addition to the renovation, Unilever wants to start a comprehensive efficiency program. As a result, around 7,500 employees are expected to leave the group. With leaner structures, 800 million euros are expected to be saved over the next three years.
After separating the ice cream division, Unilever wants to focus on four business areas: “Beauty and Wellbeing” with brands such as Dove and Vaseline, “Personal Care” with products from Ax and Rexona as well as “Home Care” (Domestos, Cif) and “Nutrition” items including from Knorr.