Unilever plans to sell Greek olive oil and spreads businesses
October 09, 2017
Global consumer goods giant Unilever is continuing with its plans to sell parts of its business in order to boost its financial growth.
The company’s Greek subsidiary Elais Unilever Hellas is planning to sell its olive oil unit in Greece, including brands such as Elanthi, Altis and Solon, alongside an olive oil plant in the city of Piraeus, according to a 29 September FoodBev Media report.
Unilever was also looking to sell its Greece margarine business with the Vitam, Altis Soft andBecel brands, which are produced at its Rendi plant.
“It would be ideal if both the olive oil and the margarine brands ended up in the same company,” an Elais Unilever Hellas spokesperson told the media outlet.
“Greece remains a priority for Unilever and this product portfolio restructuring is expected to help improve the local company’s growth prospects while boosting focus on strategic categories and investing in new products in the local market,” the company added.
Unilever announced on 22 September that it was selling its South African spreads business to investment holding company Remgro for nearly US$900M.