Unilever is considering splitting off its food business as part of its portfolio review.

Investing.com — According to Bloomberg on Tuesday, Unilever Plc is in the early stages of considering a spin-off of its food assets, exploring ways to streamline its portfolio.

The manufacturer of Hellmann’s mayonnaise is in talks with advisors to explore future options, including possibly spinning off most or all of its food business. The company is in the preliminary stages of weighing various possibilities, such as spinning off the entire business or retaining some flagship brands while divesting the rest, but may not pursue any deals before 2027.

A transaction could value Unilever’s food business at several billion dollars. The company has not made any final decisions and may choose to keep its current structure or seek other alternatives.

It is also reported that Unilever’s food assets could attract potential buyers’ interest.

The company’s food brands include Colman’s condiments, Knorr bouillon cubes, Maille Dijon mustard, Namdong instant noodles, and savory Marmite spreads.

Over the past decade, Unilever has sold several food assets, including its global spreads division (including the I Can’t Believe It’s Not Butter! brand), as well as recently divested snack brand Graze and plant-based meat manufacturer The Vegetarian Butcher.

Under the leadership of CEO Fernando Fernandez, Unilever continues to focus on transforming from a food-selling group into a company focused on beauty, personal care, and health. Last year, the company spun off its ice cream division into Magnum Ice Cream Co., retaining nearly 20% of the shares, which will be gradually sold over the next few years.

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