Unilever continues to reduce its exposure to the West.
The British-Dutch consumer products giant said on Thursday that it was considering selling its Skippy peanut butter brand in the United States and Canada as it focused more on emerging markets.
“As part of a recently completed strategic review, we have decided to explore various options for our Skippy business in the U.S. and Canada including, but not limited to, a potential sale of the business,†Anita Larsen, a Unilever spokeswoman, said in a statement.
Skippy brings in annual revenue of about $300 million, Ms. Larsen said.
The peanut butter brand is No. 2 in the United States, with 18 percent of the market, behind Jif, a J.M. Smucker brand, which has 34 percent, according to Bloomberg News, citing SymphonyIRI Group market research data.
Unilever, with brands that range from Dove to Ben & Jerry's, has been selling assets in North America and focusing on emerging markets. In August, t he company sold its North American frozen meals business to ConAgra Foods for $267 million.
Earlier this year, Unilever completed its acquisition of Concern Kalina, a Russian cosmetics brand, as part of its emerging markets strategy.
Unilever is concerned about the sluggish economy, warning in July of “deteriorating global economic conditions and a competitive environment which remains intense.â€
