Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

Kraft Heinz abandons Unilever bid

20 February 2017 by
Kraft Heinz abandons Unilever bid

Kraft Heinz, the company behind brands including Heinz ketchup, Amoy and Lea & Perrins, has abandoned its offer to buy Unilever for approximately $143b (£115b).

The companies released a joint statement yesterday (19 February) that Kraft Heinz "amicably agreed" to withdraw its offer for Unilever, the Anglo-Dutch company behind brands such as Knorr, Hellmann's and Marmite.

The statement added that both companies "hold each other in high regard" and Kraft Heinz "has the utmost respect for the culture, strategy and leadership of Unilever".

Unilever rejected the bid on Friday, saying it saw "no merit, either financial or strategic" in the offer, which would have been one of the biggest in corporate history.

Shares in Unilever fell more than 8% in morning trading today.

Unilever turns down Kraft takeover as shares soar >>

Unilever Food Solutions' Tracey Rogers to retire as MD >>

Sodexo extends deal with Unilever >>

Videos from The Caterer archives

Are you looking for a new role? See all the current hospitality vacancies available with The Caterer Jobs

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking