Unilever Weighs Spin-Off of Food Business Valued at Tens of Billions and Talks with Kraft Heinz
Unilever is holding early-stage talks with advisers to spin off its food business—valued at tens of billions of dollars—and could decide by 2027 whether to divest the unit. It also discussed merging the division with Kraft Heinz’s condiments arm following disposals of ice cream and spreads brands.
1. Early-Stage Spin-Off Evaluation
Unilever is working with advisers in preliminary discussions to spin off most or all of its food business, which could fetch a valuation in the tens of billions of dollars. Any decision is pending and a transaction may not occur before 2027.
2. Merger Discussions with Kraft Heinz
The company engaged in talks to merge its food division with Kraft Heinz’s condiments arm, exploring options to combine operations and leverage scale in grocery categories.
3. Portfolio Reshaping and Brand Divestitures
Under CEO Fernando Fernandez, Unilever has already spun off its ice cream division into Magnum Ice Cream Co. and exited global spreads, Graze and The Vegetarian Butcher brands, targeting core portfolios like Hellmann’s and Knorr to drive 70–75% of food sales.