(GRE) JBS BUYS THE VEGETARIAN BUTCHER

Unilever has agreed to sell The Vegetarian Butcher to fellow plant-based meat business Vivera, with the deal expected to be completed by Q3 2025.

Four months after it first emerged that Unilever was planning to offload The Vegetarian Butcher as part of its portfolio shakeup, it has accepted a non-binding offer to sell the business to fellow Dutch meat-free company Vivera.

The latter – itself owned by the world’s largest meat company, JBS – submitted a binding offer for an undisclosed sum to acquire The Vegetarian Butcher. The deal is subject to the usual closing conditions, regulatory requirements, and consultation processes, and expected to be completed by Q3 this year.

Unilever, which bought The Vegetarian Butcher in 2018, said the brand no longer aligned with the requirements of its wider portfolio, and the divergence made a sale the best option. It enlisted Piper Sandler to handle the transaction.

The wider picture, though, is that this is part of the CPG giant’s Growth Action Plan 2030 (GAP2030). It intends to clear out brands collectively worth around £1B in annual sales, sharpening its focus on its 30 ‘power brands’ – like Hellmann’s, Dove, Knorr, and Surf – which represent over three-quarters of its turnover.

“I believe that The Vegetarian Butcher is poised for even greater success in the next phase of its journey under new ownership that is dedicated to plant-based meat replacements,” said Unilever Foods president Heiko Schipper. “This focused expertise will support the brand in its ambitious goal to become the ‘Biggest Butcher of the World’.”

One of the world’s leading plant-based meat makers, The Vegetarian Butcher was established in 2007 by Jaap Korteweg – a ninth-generation livestock farmer – and politician Niko Koffeman. In 2016, it co-produced a line of vegetarian meatballs with Unilever under the Unox soup brand, and was purchased by the CPG behemoth two years later as it looked to capitalise on the boom in meat-free eating.

The Vegetarian Butcher’s products are available in 55 countries and over 40,000 retail locations, as well as restaurants and chains like Burger King and Subway. According to Unilever – which spent over £8M on a marketing push for the brand in 2019 – the plant-based meat maker has delivered “strong double-digit growth on average” since the acquisition, although Reuters reported that it only records around €50M in annual sales and is loss-making. More of this article (green queen) - link - more like this (green queen) - link - more like this (Vegetarian Butcher) - link - more like this (Unilever) - link