HUL rebuts divestment buzz, says foods business ‘core’ as Unilever confirms talks after inbound offer

Mumbai: Hindustan Unilever said its foods business remains a core and attractive segment, pushing back against speculation of a potential divestment, even as parent Unilever confirmed it is in talks with McCormick & Company, after receiving an inbound offer for the unit.

"HUL is not in any discussions regarding divestment of the foods portfolio," the company said in a filing, adding that the business continues to be a key pillar of its strategy.

Unilever said there is no certainty a deal will be reached, but maintained that foods with brands such as Knorr and Horlicks continues to be a strategically important business with a strong financial profile.


In India, HUL's foods business generates over ₹15,000 crore in annual revenue, accounting for about 22% of sales, with market leadership across tea, ketchup and malted food drinks.

Both HUL and Unilever last year spun off their ice cream businesses, a move aimed at giving the underperforming segment greater operational flexibility to sharpen focus and respond faster to local markets.