Unilever has started taking steps to sell its margarine spreads business, which includes brands such as Flora and I Can’t Believe It’s Not Butter (which was renamed to I Can’t Believe It’s So Good With Everything).
The consumer goods giant is also planning to buy back €5bn (£4.3bn) and raise its dividend by 12%, it said in a statement on Thursday.
In the statement, chief executive Paul Polman also discussed plans to integrate Foods and Refreshment into a single unit to create a “leaner more focused business that will continue to benefit from our global scale and footprint.”
The company is targeting operating margins, excluding restructuring costs, of 20% by 2020.
MullenLowe has been the creative agency of record for Flora since 2015 when it won the account off Adam&EveDDB.