Cadbury Nigeria reports 10% decline in full year revenue while Unilever Nigeria registers 2% top-line growth

NIGERIA – Cadbury Nigeria, subsidiary of snack and confectionery firm Mondelez International has reported a 10% decline in full year revenue for the period ended December 2020, to N35.41 billion (US$86.5m). The decline, according to Naira Metrics was occasioned by the decrease in domestic and export sales, spearheaded by the impact of COVID-19, which further affected its profits. The maker of hot chocolate beverage suffered an 83% decline in profit to N172.67 million (US$422,000). Cadbury’s profitability thrives on high volume and high revenue as FMCG profit margins are usually rather…

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Leading chocolate ice-cream brand Magnum commits to planting 465,000 trees in Ivory Coast

IVORY COAST – Unilever-owned Magnum ice cream brand has announced a tree planting programme in the Cavally Forest region in Ivory Coast, targeting to plant 465,000 native trees as it marks International Day of Forests. This is part of a multi-year, strategic plan to preserve and restore the region where it sources its cocoa for its ice-creams. Magnum’s Brand Director, Ben Curtis, said, “We are proud to announce our work to protect and preserve forests in Côte d’Ivoire, where the majority of Magnum’s cocoa is sourced. “It helps us continue…

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Unilever injects US$15m into Closed Loop to bolster recycling efforts in North America

US – Consumer Packaged Goods Company Unilever has announced a US$15 million investment into the Closed Loop Leadership Fund to bolster recycling efforts in North America. The Closed Loop Leadership Fund is a private equity fund focused on acquiring companies across the value chain that are looking to upgrade their recycling infrastructure and create a circular system. Last year, Swiss food manufacturing giant Nestlé joined the closed loop initiative, investing $30 million in the Fund to enable it scale up its activities. With its investment, Unilever aims to recycle an…

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Unilever Nigeria announces plans to spin off Tea Business into separate legal entity

NIGERIA – Leading FMCG company, Unilever Nigeria has announced plans to separate its tea business into a separate legal entity. In a notification at the Nigerian Stock Exchange, the company said that the decision was in further to the announcement made on 5th August, 2020 by its parent company on the strategic review and planned separation of its tea business globally. “The planned separation will go through the normal approval process and is expected to be concluded by the end of 2021,” the company said. The company has indicated that…

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Unilever’s resilience and agility help deliver strong full-year results for 2020

UK – In a year punctuated by market volatility due to the impact of Covid-19, British multinational consumer goods company managed to record underlying sales growth of 1.9% in its full-year 2020 results. In a statement, Unilever revealed that its underlying sales grew across Unilever’s Asia/AMET/RUB and Americas segments last year, by 0.4% and 6.2% respectively, while Europe witnessed a decline in underlying sales of 1%. The company further noted that its ecommerce grew by 61% in 2020 as consumers turned to online purchases in an effort to observe Covid-19…

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Unilever simplifies food production with launch of new portable food factory

NETHERLANDS – British multinational consumer goods company, Unilever has developed a portable food factory that operates within a 40-foot sea container. The container is fitted with all-in-one utility capabilities, and requires just one electricity cable and a water hose to operate. According to Unilever, the unit covers the end-to-end production process – from raw materials through to packaging – to produce 300 tonnes of liquid seasoning per eight-hour shift. Unilever says the concept of the travel factory means that it can be shipped to new locations across the world, making…

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Unilever sells remaining Bertolli assets to Dutch food maker Enrico-Glasbest

NETHERLANDS – British multinational consumer goods company, Unilever has offloaded its remaining assets in the Bertolli brand to Netherlands-based Enrico-Glasbest for an undisclosed sum. Enrico-Glasbest will acquire Bertolli’s European pasta sauces, pesto and mayonnaise activities, as well as other trademark rights under the Bertolli licence. According to a release from Enrico-Glasbest, no staff transfer will take place following the transaction. The Dutch food maker further noted that no production locations will be taken over and the production of Bertolli products will continue to take place where they are currently produced.…

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Unilever takes part in expansion of US$20m greenfield tea project in Rwanda

RWANDA – The Government of Rwanda has partnered with Unilever Tea Rwanda and The Wood Foundation Africa (TWFA) to commence the second phase of the Nyaruguru tea project in the Southern province of the country, injecting US$20 million in the developmental initiative. This comes after the successful completion of the first phase of the project which broke ground in 2017 and consisted of a 3,400-hectare smallholder catchment, supported by a dedicated farmer services company which operates an 800-hectare commercial plantation feeding the processing factory operated by Unilever Tea Rwanda. According…

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Unilever unifies corporate structure under a new UK holding company.

UK – Leading consumer goods company with British and Dutch origins Unilever has completed the unification of its group legal structure, and will now operate under a single parent company, Unilever PLC. This will be the first time the company will be operating under a single entity since its formation in 1930. Throughout the years, it has operated as two separated listed companies, a Dutch NV (nameless venture) and a UK PLC (Public Limited Company). Over the last two decades, the dual parent holding company structure has been reviewed periodically…

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Unilever appoints Jaime Aguilera as Non-Executive Director

NIGERIA – Unilever Nigeria Plc, a consumer good manufacturing company has announced the appointment of Mr. Jaime Aguilera as a Non-Executive Director with effect from January 1, 2021. Mr. Jaime who was appointed Unilever Executive Vice President Africa, leading the Unilever business in the region earlier this year, joins the board with extensive experience in Sales & Marketing. He started working with the multinational company in 2009 as Executive Vice President & Chairman Unilever Spain and was later appointed Executive Vice President Unilever East Europe in 2016. “The Board warmly…

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