Unilever to Make Netherlands Its Sole Headquarters, in Blow to Britain
- 6 years ago
Unilever to Make Netherlands Its Sole Headquarters, in Blow to Britain
By CHAD BRAYMARCH 15, 2018
LONDON — Unilever said on Thursday that it would make Rotterdam, the Netherlands, its sole headquarters,
dealing a blow to Britain as it negotiates its withdrawal from the European Union.
Unilever finally said last year that it would review its legal structure after
Kraft Heinz briefly flirted with a $143 billion takeover of the company.
As consumers have shied away from traditional brands in favor of products from smaller companies with more natural
and organic ingredients, Unilever has tried to keep pace by buying companies like Schmidt’s Naturals, Sundial Brands and Dollar Shave Club in recent years.
Unilever’s two headquarters mirrored its legal structure, in which the company maintained separate stock listings
and corporate entities in both countries after its formation by the combination of the British soap maker Lever Brothers and the Dutch margarine producer Margarine Unie in 1930.
For nearly 90 years, the consumer products giant — whose brands include Dove soap, Lipton tea, Surf detergent
and Ben and Jerry’s ice cream — has straddled the North Sea, maintaining headquarters in London and in the Netherlands.
As the company pursued a sale of its margarine and spreads business last year, Unilever said, “it was apparent
that our dual-headed legal structure adds complexity when undertaking such changes
By CHAD BRAYMARCH 15, 2018
LONDON — Unilever said on Thursday that it would make Rotterdam, the Netherlands, its sole headquarters,
dealing a blow to Britain as it negotiates its withdrawal from the European Union.
Unilever finally said last year that it would review its legal structure after
Kraft Heinz briefly flirted with a $143 billion takeover of the company.
As consumers have shied away from traditional brands in favor of products from smaller companies with more natural
and organic ingredients, Unilever has tried to keep pace by buying companies like Schmidt’s Naturals, Sundial Brands and Dollar Shave Club in recent years.
Unilever’s two headquarters mirrored its legal structure, in which the company maintained separate stock listings
and corporate entities in both countries after its formation by the combination of the British soap maker Lever Brothers and the Dutch margarine producer Margarine Unie in 1930.
For nearly 90 years, the consumer products giant — whose brands include Dove soap, Lipton tea, Surf detergent
and Ben and Jerry’s ice cream — has straddled the North Sea, maintaining headquarters in London and in the Netherlands.
As the company pursued a sale of its margarine and spreads business last year, Unilever said, “it was apparent
that our dual-headed legal structure adds complexity when undertaking such changes