Unilever PLC UL shares are trading relatively flat on Thursday.
The company is reportedly exploring the sale of some of its smaller food brands, including those based in the Netherlands, as part of a strategic shift under CEO Hein Schumacher.
The company is looking to streamline its portfolio and refocus on its key power brands, reported Reuters, citing sources familiar with the discussions.
This move may improve profitability and better position Unilever for long-term growth.
In addition to its Dutch brands, Unilever is also considering selling smaller food units in the U.K. and other parts of Europe, Reuters added.
This shift in strategy comes amid ongoing tensions with one of its subsidiaries, Ben & Jerry’s, which filed a lawsuit against Unilever on Wednesday.
The lawsuit accuses the parent company of attempting to suppress the ice cream maker’s support for Palestinian refugees and its calls for a ceasefire in Gaza, according to The New York Times.
The legal action deepens a longstanding conflict between the two companies.
According to Benzinga Pro, UL stock has gained over 17% in the past year. Investors can gain exposure to the stock via Absolute Select Value ETF ABEQ and American Century Focused Large Cap Value ETF FLV.
Price Action: UL shares traded higher by 0.19% at $57.49 at the last check Thursday.
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