潜水简介:
- Unilever disclosed activist investor Trian Fund Management LP owns a 1.5% stake in the company, and it is adding Trian founding partner Nelson Peltz to its board, the company said in aU.S. Securities and Exchange Commission filing。
- Peltz will join the board in July. In the SEC filing, he said Trian believes Unilever has "significant potential" and looks forward to working with management "to help drive Unilever's strategy, operations, sustainability, and shareholder value for the benefit of all stakeholders."
- 据Trian于1月首次购买联合利华的股份。《华尔街日报》的报告。它来了some tumultuous weekswhen the company made an ultimately unsuccessful offer to buy GlaxoSmithKline's consumer unit and said it may be looking to divest some or all of its food brands. The company since announced a重组和最终裁员大约1,500名经理。
潜水见解：
2022年，联合利华（Unilever）处于十字路口。庞大的公司可以转移其业务，这是有道理的，而且有道理的是，像佩尔茨这样的激进投资者希望采取动手做法来帮助联合利华利用这种情况。
The markets certainly agree that Peltz could benefit Unilever. The company's stock price rose nearly 8.6% following the news on Tuesday morning.
但是，这对联合利华的食品业务意味着什么尚待确定。毕竟，联合利华是个人护理和美容以及家庭护理和清洁领域的全球领导者 - 它在冰淇淋和食品空间中拥有主要品牌。当该公司为GSK部门发挥作用时，联合利华领导人表示，食品和茶点的长期增长少于其投资组合的其他领域，并表示他们可能正在寻求剥离其中一些品牌。
Peltz's addition to the Unilever board could hasten these changes. In a通过寻求alpha引用的报告，美国银行分析家认为，佩尔茨会磨损销售，并建议该公司减少对食品和茶点品牌的支出。
许多分析人士说，佩尔茨可能会带给联合利华game plan and lessons learned from four years在非食品CPG Titan Procter＆Gamble的董事会上。公司登上Peltz时公司面临的部分问题与联合利华（Unilever）的人相似 - 衰老品牌和巨大的官僚机构。
Peltz has a track record of pushing large food companies toward divestments or spin-offs. In 2008, with a 4.5% stake in the company, Trian was the impetus tosplit the former Cadbury Schweppes。Cadbury is now part of Mondelēz International, and the beverage arm became Dr Pepper Snapple, which is now part of Keurig Dr Pepper. In 2013, Trian — which took a stake in PepsiCo in 2012 — began a two-year push to split the company's snacks and beverage businesses. Trian was not successful andsold its stake in 2016。
激进投资者已经能够利用他们的帖子来推动食品企业的巨大变化。去年，包括Artisan Partners资产管理，Rauseway Capital Management和Bluebell Capital Partners在内的激进投资者的压力导致了前Danone chairman and CEO Emmanuel Faber stepping down, as well as a completeoverhaul of the dairy company's board。
去年，激进投资者Jana Partnerstook a 7.5% stake in private-label food maker TreeHouse Foods并将一些附属董事会成员带到公司；它的股份since grown to 9.2%。Jana在卖空之前很快就参与了许多公司的参与，这是Treehouse一直在考虑的选择。树屋有decided against a sale of the company,但看潜在的资产剥离。
