By Kyle Morris

Unilever PLC said Monday it has decided that its future is in materially expanding its presence in higher-growth categories such as health, beauty and hygiene after it completed a strategic review.

The Anglo-Dutch consumer-goods group made the announcement following the reporting of its interest in GSK Consumer Healthcare over the weekend. On Jan. 15, Unilever said it had approached GlaxoSmithKline PLC and Pfizer Inc. about a deal for their consumer-healthcare joint venture, potentially valued at $68 billion.

Unilever said Monday the health, beauty and hygiene categories offer higher rates of sustainable market growth. Major acquisitions and accelerated divestment of lower growth brands and businesses will form part of the strategy, it said.

A major initiative to enhance performance will be announced later this month, the company said.

Write to Kyle Morris at kyle.morris@dowjones.com

(END) Dow Jones Newswires

January 17, 2022 02:44 ET (07:44 GMT)

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