Huge Marmite update as iconic brand faces first major shake-up in 25 years | UK | News
The owner of iconic British brands Marmite, Colman’s and Bovril is reportedly considering selling. It comes as Unilever, a FTSE 100 consumer products company, continues its move away from food and into health and beauty.
The brand is reportedly considering selling Marmite, which was launched in 1902, but will keep Pot Noodle and Hellmans. The asset package, which also includes Colman’s and Bovril beef extract, is estimated to generate revenues of around £200 million.
Unilever has owned all three brands for over 20 years. Lead was first reported ReutersWe spoke to three people with knowledge of the matter.
Mr Fernandez arrives at a time when Unilever shares remain largely stagnant. While he reportedly plans to sell brands worth between $1 and $1.5 billion, he has vowed to turn the company around.
The sale of The Vegetarian Butcher to Vivera was announced by Unilever in March. It was later confirmed that personal care brand Kate Somerville would be sold to Rare Beauty Brands last month.
Unilever’s former CEO Hein Schumacher previously said the company needed to narrow down its “highly eclectic portfolio of food brands”. Other companies, including Nestle, have also been shedding assets recently.
In recent years they have struggled with high inflation, which has affected customers and their own factories. As a result, profit margins fell and sales fell.
Marmite, Colman’s and Bovril are each well known in Britain. Colman’s was founded in Norwich in 1814, Bovril in 1871 by Scotsman John Lawson Jonston and Marmite in Burton-on-Trent in 1902.
However, the New York brand Hellmann’s is not expected to be available for sale. Along with Pot Noodle, it is among Unilever’s top 30 “power brands”.
Unilever hosts nearly 400 brands worldwide. It also markets personal care giant Dove and deodorant brand Axe.
Unilever declined to comment.
