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Unilever reveals plans to split off Ice Cream business
Unilever has revealed steps to accelerate its Growth Action Plan (GAP) through the separation of its Ice Cream business and the launch of a productivity programme.
The business has five of the top 10 selling global ice cream brands including Wall’s, Magnum and Ben & Jerry’s. It comes as Unilever looks to create a portfolio of brands that have more complementary operating models. “Ice Cream has a very different operating model,” Unilever noted, “and as a result the Board has decided that the separation of Ice Cream best serves the future growth of both Ice Cream and Unilever.” Following separation, Unilever will operate four Business Groups across Beauty & Wellbeing, Personal Care, Home Care and Nutrition. A demerger of Ice Cream is the most likely separation route, with full separation expected by the end of 2025. In addition to the portfolio changes, Unilever intends to launch a comprehensive productivity programme anticipated to deliver total cost savings of around €800 million over the next three years, which it says will more than offset estimated operational dis-synergies from the separation of Ice Cream. The programme is hoped to reduce complexity and duplication through technology-led interventions, process standardisation and operational centres of excellence to drive efficiencies. The proposed changes are expected to impact around 7,500 predominantly office-based roles globally. Ian Meakins, chair of Unilever, said: “The Board is determined to transform Unilever into a higher-growth, higher-margin business that will deliver consistently for all stakeholders. Improving our performance and sharpening our portfolio are key to delivering the improved results we believe Unilever can achieve. “The separation of Ice Cream and the delivery of the productivity programme will help create a simpler, more focused, and higher performing Unilever. It will also create a world-leading ice cream business, with strong growth prospects and an exciting future as a standalone business.” Hein Schumacher, CEO of Unilever, said: “Under the Growth Action Plan we have committed to do fewer things, better, and with greater impact. The changes we are announcing today will help us accelerate that plan, focusing our business and our resources on global or scalable brands where we can apply our leading innovation, technology and go-to-market capabilities across complementary operating models. “Simplifying our portfolio and driving greater productivity will allow us to further unlock the potential of this business, supporting our ambition to position Unilever as a world-leading consumer goods company delivering strong, sustainable growth and enhanced profitability. “We are committed to carrying out our productivity programme in consultation with employee representatives, and with respect and care for those of our people who are impacted.”Arla Foods reveals plans to become major UK exporter of mozzarella
Hovis form innovative new partnership with health focused start-up Modern Baker
Hovis has announced a new, exclusive brand licensing agreement with Modern Baker.
The agreement will run for three years and will see the brands working together on the manufacture, development and distribution of unique new bakery products.
Hovis has worked with the Oxford based start-up since April 2023 focusing on the product development, manufacture and distribution of the Modern Baker Superloaf and Super Bakery franchise across the UK and Ireland.
The partnership has enabled Modern Baker to work with the Hovis R&D team to develop and bake its unique gut-health loaf at scale, to launch the secret recipe nationwide. The new licensing agreement is a natural progression for Hovis, utilising almost over 140 years of experience in bread making and market leading innovation to launch new products that complement its existing portfolio.
Modern Baker is known for its ‘health-plus’ approach and the new agreement will see the brands working together to create new bread recipes that appeal to the health-conscious consumer.
Jon Jenkins, CEO of Hovis, said: “The new licensing agreement is an exciting step for Hovis. Our brand has been at the forefront of new innovation for the last 140 years and we see strong potential for continual growth and the development of new variants with Modern Baker.
“We know that today’s consumer is increasingly interested in health and gut health and we look forward to working with Modern Baker to grow the current range and innovate with new fantastic tasting products.”
Modern Baker’s co-founder, Melissa Sharp, said: “Superloaf is the result of six years of nutrition innovation, and this licence agreement with Hovis is a huge opportunity to make a health-positive impact on the UK’s staple food at scale. Hovis is a brand synonymous with quality, not to mention a national treasure, and therefore the obvious partner for our ambition to place the UK at the centre of nutrition innovation.”