Unilever to sell Graze to Kandy Kittens owner Katjes International

(Sharecast News) - Unilever said on Monday that it has agreed to sell the Graze business to Candy Kittens owner Katjes International for an undisclosed sum. The consumer goods giant bought healthier snacking brand Graze in 2019.

Unilever said that under its ownership, Graze has transformed its profitability and has continued to deliver growth in the retail channel.

"As previously shared, Unilever's ambition in Foods is to deliver consistent, top-tier performance in its peer set, and will do that by rigorously focusing on three attractive global categories; Condiments, Cooking Aids & Mini Meals, and Unilever Food Solutions," the company said.

"This is where Unilever has proven capabilities to win, anchored in its large, global power brands, and is sharpening its portfolio for long-term growth and scalability in these areas. This includes pruning the portfolio where relevant."

It said Graze has good potential for future growth and development, which will be better realised under new ownership by Katjes International, and the Candy Kittens Group, given their category expertise and complementary product portfolio.

Georgina Bradford, UKI Foods General Manager, said: "Graze has transformed into a retail-focused brand which continues to redefine healthy snacking with innovations that stay a step ahead on nutrition, never compromise on taste, and remain true to its distinctive and much-loved style.

"The brand is now well positioned for its next phase of growth, which we are confident will be best unlocked under its new ownership with dedicated focus on its healthier snacking mission."

The deal is expected to complete in the first half of next year.