Unilever to quit spreads manufacturing mid-2018, says global CEO

Business News

 By Franklin Ocheneyi

 “WE agreed to sell our global spreads business which we expect to exit around the middle of 2018.”

This statement was made by the global Unilever CEO Paul Polman when the company released its results for the full-year 2017.

According to him, in 2017, the company delivered a good all-round performance with competitive growth, including an innovation-led improvement in volumes in the fourth quarter, and substantially increased margin, earnings and cash flow.

“This puts us well on track to deliver towards the strategic objectives set out for 2020 and demonstrates the progress we have made in transforming Unilever into a more resilient and more agile business.”

2017 has once more been a year of major change for Unilever with the acceleration of the ‘Connected 4 Growth’ programme that we announced in 2016. With the implementation of a more agile, consumer-facing organisation, we are seeing quality and speed of innovation further improve.

At the same time, we have significantly stepped up the delivery from our savings programmes and continued the evolution of our portfolio with 11 acquisitions announced and completed in the year as well as the announcement of the disposal of the spreads business. All of this is making Unilever increasingly competitive in light of fast-changing consumer and technology trends,” he said.

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