Initiative held the account in the UK and most of the other major European markets, with the exception of Italy and Germany, which were held by MindShare.
MindShare, part of WPP Group, now holds the business across all Unilever's divisions and in 15 European markets.
Giulio Malegori, CEO of MindShare Europe, said: "I am delighted that Unilever has selected MindShare as its media partner for Europe. Our team has really risen to the challenge of delivering a truly compelling offer in each market based on a combination of great thinking and robust negotiation. We are really looking forward to working with one of the top global advertisers across the region."
The €1bn Unilever business represents the largest single account move in the history of the European media business.
Alan Rutherford, Unilever global media director said: "Unilever needs to streamline its external support structure and services in line with its drive for simplification and MindShare has clearly recognised the needs of our European business in their response to this pitch. It has answered our brief in terms of cost, quality, insight and innovation linked to a strong vision for our business and brands. Working with MindShare across the region will ensure that Unilever continues to set new standards and benchmarks in media planning, negotiation and international media management."
The FMCG giant called the media review in March and aimed to achieve savings of €40m. Agencies made their presentations in early September and a decision has been expecte two weeks ago. Delays were caused when Rutherford reportedly met with strong opposition from local managers who preferred not to change their buying agency.
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