Unilever 'to sell' some non-core beauty brands - report
UK-listed consumer goods giant Unilever is planning to sell off $600 million worth of non-core beauty brands in Europe and the US, people familiar with the matter have told Bloomberg.
The company is working with Credit Suisse Group on a potential disposal of the assets although no final decisions have been made on the size or timing of any sale, the people said. Representatives for Unilever and Credit Suisse have declined to comment.
Although the report didn't name any of the brands likely to be on the block, beauty and personal care remains Unilever’s biggest and product-heavy segment. Turnover in the sector rose 3.8% to €5.3 billion in its last Q3 report.
It’s unlikely the sell-off will include any of its major names, especially its leading Dove brand, while its prestige brands should also be safe as Unilever has been growing the category over recent years.
But its skincare ops have seen declines in high-single-digits and deodorants were down in low-single-digits in the last trading statement. A clearout of minor non-core brands should also help cut costs and allow the business to focus on those important core brands.
Unilever’s most recent performance will be revealed when the company reports results for Q4 this week and we could hear more about its plans at that point too, although that's not guaranteed given that it hasn't confirmed the Bloomberg report.
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