By Michael Susin
Unilever said it received a binding offer from vegetable-based protein company Vivera to acquire the Vegetarian Butcher, without disclosing financial details.
The maker of Dove soap and Hellmann's mayonnaise said Thursday that the disposal is part of its turnaround plans, as it seeks to make its portfolio leaner and focus on fewer, bigger brands.
It recently named Fernando Fernandez as chief executive in order to accelerate the sale of a number of underperforming brands in the food segment.
"The Vegetarian Butcher require a distinct supply chain and sourcing model, making them less scalable within the broader Unilever foods portfolio," the company said.
The completion of the sale is expected by the third quarter, subject to certain conditions.
The Vegetarian Butcher was bought by Unilever in 2018, and has since then delivered strong double-digit growth on average and expanded to more than 55 markets worldwide, it added.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
March 20, 2025 10:49 ET (14:49 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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