Unilever Israel Ltd. has decided to lower the prices of 22 different products by 5-10% in the wake of boycott threats by student leaders and "cottage cheese" protesters.
Unilever Israel owns the Telma, 778 and Knorr food brands, Ben and Jerry's franchise, and Badin detergents, Dove soap, and Vaseline brands, among many others. The products that will be cheaper include Blue Band margarine, Telma mustard, Knorr soups and 778 jams.
However, Unilever has declined to lower the prices of its Telma breakfast cereals, which comprise a major part of its sales.
Last week the boycott leaders sent letters to Unilever Israel, Osem Investments Ltd. (controlled by Nestle (SWX:NESN)) (TASE: OSEM) and Strauss Group Ltd. (TASE:STRS) threatening them with boycotts if they do not lower their prices. Unilever is the first of three companies to comply although Osem agreed to lower the prices of its Materna infant formula.
Published by Globes, Israel business news - www.globes-online.com - on October 10, 2011
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