Cereal manufacturer Kellogg today revealed plans to invest $40m in
expanding its institute for food and nutrition research, claiming
that sales from innovation have doubled since it first opened in
1997.
As part of a bid to shed low margin operations, Unilever today
reached a deal to sell most of its European frozen foods business
to a private equity firm for €1.73bn.
Unilever yesterday reported a decline in second-quarter operating
margins, as the company continues to spend on marketing in a bid to
boost lackluster sales.
In a bid to return its European operations back to an acceptable
level of growth, Unilever today put up for sale most of its
underperforming frozen foods businesses, which includes four
manufacturing plants.
Despite the launch of new health-conscious products, more
advertising spend and a bid to maintain competitive prices in
Western Europe, Unilever's sales and margins in the region
continued to tumble in the third quarter.