Unilever, the FTSE 100 consumer goods giant behind Marmite and Lynx, is trying to slim down its portfolio of personal care brands by putting two of them up for sale.
Sky News has learned that Unilever is working with advisers to divest Kate Somerville, an upscale skincare brand it acquired in 2015.
City sources said this weekend the company had hired PricewaterhouseCoopers to gauge interest from potential buyers.
It was unclear what valuation Unilever would seek for Kate Somerville, who is well-known in Hollywood and is part of the company’s prestige personal care portfolio.
According to insiders, Unilever also plans to divest REN, another skincare brand it bought in 2015.
The potential divestments come just under a year after a restructuring at the top of Unilever, one of the world’s largest consumer goods manufacturers.
Hein Schumacher, a former HJ Heinz executive, was appointed CEO of Unilever in July 2023 amid dissatisfaction among some shareholders with the company’s performance.
Since then, the company has indicated that it is planning to spin off its huge ice cream division, which includes Magnum, Wall’s and Ben & Jerry’s.
It is also possible to sell the company to private equity investors.
Unilever declined to comment.
