Dive Brief:
Unilever acquired The Vegetarian Butcher in 2018, experiencing significant growth and expanding globally to over 55 markets.
However, under new CEO Fernando Fernandez, Unilever is streamlining its portfolio, leading to the decision to sell The Vegetarian Butcher.
The brand’s unique supply chain and technological capabilities don’t align with Unilever’s broader food portfolio, making a sale the best option for both parties.
Divesting non-synergistic brands allows Unilever to focus on high-growth products and reinvest funds into other operations.
The sale is set to close in the third quarter amidst a slowdown in the plant-based food sector, with companies like Beyond Meat making strategic adjustments.