Artisan Partners supports Unilever's plan to spin off its food division

Glonghui, April 1st｜Artisan Partners welcomed Unilever’s decision to merge its food business with McCormick, stating that Unilever should now be able to manage its core personal care and household brands more efficiently. Artisan holds $1.6 billion worth of Unilever shares, accounting for 1.22% of the company’s stock. According to data from LSEG’s Workspace, Artisan is Unilever’s ninth-largest investor. The merger will create a company valued at approximately $65 billion, making it the second-largest food deal in history after the Kraft and Heinz transaction in 2015. Unilever’s food business is highly profitable, but its sales growth has lagged behind the company’s personal and beauty care business, affecting the group’s short-term ambition to boost overall sales by 4%-6%.