Unilever share price: Group set to close historic factory in Norwich

Move to affect 113 jobs

Unilever share price: Group set to close historic factory in Norwich

Unilever (LON:ULVR) is to close the Norwich factory where Colman's Mustard has been made for 160 years, Sky News has revealed. The move will affect 113 jobs in the city.

Unilever’s share price has slipped into the red in today’s session, having given up 0.66 percent to 4,044.00p as of 08:33 GMT. The shares are underperforming the broader London market, with the UK benchmark FTSE 100 index having climbed marginally higher and currently standing 0.09 percent up at 7,702.66 points. The group’s shares have added more than 22 percent to their value over the past year, as compared with more than a seven-percent rise in the Footsie.

Unilever to close Norwich factory

Sky News reported yesterday that Unilever was set to close its Colman’s Mustard site in Norwich. The move will affect 113 jobs in the city, of which 40 will transfer to a separate Unilever site in Burton, while 25 jobs will be created at a new mustard milling and mint processing plant near Norwich.

The newswire notes that the Anglo-Dutch consumer goods giant took the decision after soft drinks maker Britvic said in October that it would close the Robinson’s squash factory on a site shared with the Colman’s plant. The move prompted a review by Unilever, which said at the time that the operations of the two companies were ‘uniquely intertwined’ with shared infrastructure.

Group wraps up acquisition of Schmidt’s Naturals

In a separate development, the Anglo-Dutch consumer goods giant said in a statement this week that it had completed the acquisition of Schmidt’s Naturals, announced last month. The move comes after the group recently inked a deal to sell its spreads business to KKR for €6.83 billion as part of its efforts to unlock value for shareholders in the wake of Kraft Heinz’s failed takeover bid last year.

As of 08:57 GMT, Friday, 05 January, Unilever plc share price is 4,053.00p.

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