Unilever withdraws proposal to move headquarters to the Netherlands

UK – Unilever, a British-Dutch transnational consumer goods company, has said its board has withdrawn its proposal to move to the Netherlands, after a growing tide of opposition by U.K. shareholders. The company said that in developing the proposal, the Board was guided by the opportunity to unlock value for shareholders by creating a stronger,…

Mars, Nestle and Unilever pledge to join Saudi Arabia’s Healthy Food Strategy

SAUDI ARABIA - Leading global food and beverage manufacturers; Mars, Nestle and Unilever, as well as importers have signed a voluntary pledge with the SFDA that includes reducing sugar, salt and fat content The Saudi Food and Drug Authority (SFDA) launched its Healthy Food Strategy at a ceremony last week, held under the patronage of…

Nestle and Unilever among suitors to acquire GSK’s Horlicks brand

INDIA - Nestle and Unilever, global retail and products companies, are among suitors who are placing bids to acquire UK pharmaceutical giant GSK’s Indian nutritional foods unit, which owns health food drinks (HFDs) Horlicks and Boost, in a deal estimated at US$4 billion. According to ET Retail, GSK had announced a strategic review of its…

Unilever launches new vegan versions of magnum bars in Sweden and Finland

EUROPE – Magnum, an ice cream brand owned by the British/Dutch Unilever company, is set to launch two new vegan versions of its popular ice-cream bars in Sweden and Finland next month. According to FoodingredientsFirst, the brand will add Magnum Vegan Classic and Magnum Vegan Almond, which are European Vegetarian Union approved, to its existing product…

Indorama Ventures acquires PET recycler Sorepla Industrie

FRANCE - Indorama Ventures, one of the world's leading producers in the intermediate petrochemicals industry, has enhanced its PET recycling capabilities with the acquisition of France-based Sorepla Industrie for an undisclosed fee. According to FoodBev, Sorepla Industrie operates a single recycling facility in France which boasts three production lines; one for recycled polyethylene terephthalate (rPET),…

Unilever partners with Chinese ecommerce firm JD.com to expand sales across China

CHINA - Chinese ecommerce firm JD.com has agreed a deal with Unilever to move products like Lipton’s tea and Lux soap between warehouses across China as the consumer goods firm looks to expand sales in more remote parts of the country. According to Reuters, this deal is the latest move by an ecommerce company to…

Unilever Tea announces voluntary early retirement at its Kericho tea plantations

KENYA - Unilever Tea Kenya (UTK), a subsidiary of the British consumer goods giant Unilever Plc has announced a Voluntary Early Retirement scheme to cut on the number of staff at the Kericho-based tea plantations, Business Daily has reported. Unilever East Africa Corporate Affairs Director, Joseph Sunday the planned reorganisation was part of routine business…

Unilever announces intention to buy back shares to return after-tax proceeds

LONDON - Unilever PLC and Unilever N.V., have announced their intention to buy back shares with an aggregate market value equivalent of up to €6 billion to return the expected after-tax proceeds upon completion of the Spreads disposal to shareholders, unless more value-creating acquisition alternatives arise. The Group announced the completion of the Spreads disposal…

Hindustan Unilever records 19% increase in profits to beat estimates

INDIA - Mumbai based consumer goods company, Hindustan Unilever Ltd (HUL) has reported 19.17% increase in profit to US$222.9 million in its first quarter ended 30 June 2018, beating estimates. According to ET Retail, HUL’s EBITDA for the quarter stood at US$328.29m, beating US$319.68 million estimated by ET Now poll, also as compared to US$272.14…

Ben & Jerry under attack over deceptive marketing allegations

USA - US iconic ice cream brand Ben & Jerry’s has come under attack from the Organic Consumers Association (OCA) which has filed suit against the Unilever-owned company over deceptive marketing allegations. According to FoodingredientsFirst, the OCA is suing Ben & Jerry’s Homemade, Inc., for what it calls the "deceptive labeling, marketing and sale of…