One of Unilever’s top 10 investors is calling for Unilever to sell off part of its food business in the wake of the failed Kraft-Heinz takeover bid, according to a report published by The Drum.

One of the Anglo-Dutch FMCG giant’s largest shareholders told The Times that, while Unilever was right to reject the bid from Kraft-Heinz, the company now needed to shed part of its ‘underperforming’ food business to ‘unlock value’.

The source also suggested that Unilever is poised to make large-scale acquisitions in the personal care arena – with both Colgate Palmolive and Church & Dwight rumoured to be in Unilever’s sights. Unilever CEO Paul Polman has announced a review of the business, the results of which are due to be announced in April. A sale of food brands Flora, Marmite and Hellman’s is anticipated.