Investing.com -- Unilever Plc is in early stages of considering a separation of its food assets as the company explores ways to streamline its portfolio, Bloomberg reported Tuesday citing people with knowledge of the matter.

The maker of Hellmann's mayonnaise is reportedly speaking with advisers as it studies future options including a potential separation of most or all of the food business. The company is in preliminary stages of weighing possibilities such as spinning off the business as a whole, or keeping some marquee brands while separating the rest, though it may not pursue any deal before 2027.

A transaction would likely value the Unilever food business at tens of billions of dollars. The company has not made any final decisions and could opt to retain its current structure or pursue other alternatives.

Unilever's food assets could also attract interest from potential buyers, according to the report.

The company's food brands include Colman's condiments, Knorr stock cubes, Maille dijon mustard and Namdong instant noodles, as well as the savory Marmite spread.

Unilever has over the last decade sold off food assets including its global spreads division, which included I Can't Believe It's Not Butter!, and more recently snack brand Graze and fake-meat maker The Vegetarian Butcher.

Under Chief Executive Officer Fernando Fernandez, Unilever has continued to work on transforming itself from a group selling food to one focused on beauty, personal care and wellbeing. Last year it spun off its ice cream division into Magnum Ice Cream Co., keeping a stake of almost 20% that it will sell down in the coming years.