Unilever to Buy Meat-Substitutes Brand The Vegetarian Butcher

Fecha : 19/12/2018 @ 06:16
Fuente : Noticias Dow Jones
Emisora : Unilever Dr (UNA)
Cotización : 44.88  0.83 (1.88%) @ 10:40
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Unilever to Buy Meat-Substitutes Brand The Vegetarian Butcher

Unilever (LSE:ULVR)
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   By Saabira Chaudhuri 

Unilever PLC (ULVR.LN) on Wednesday said that it has agreed to buy a Dutch maker of meat substitutes as the owner of Hellmann's mayonnaise and Ben & Jerry's ice cream looks to up its exposure to a high-growth segment of the packaged-foods industry.

Unilever's deal to buy The Vegetarian Butcher gives it dishes such as vegan chicken chunks, vegan smokey hotdogs and also a restaurant.

The company said the products are available in Portugal, Switzerland and Spain as well as the Netherlands.

The deal--terms of which were not disclosed--is expected to close by the end of the year.

It comes after rival Nestle SA (NESN.EB) last year bought Sweet Earth Foods, a maker of plant-based foods such as Harmless Ham and Benevolent Bacon.

The global meat-substitutes market has grown 36% over the past five years to $18.69 billion according to Euromonitor. The research firm forecasts growth of 17% over the next five years.

Wednesday's deal is in line with the strategy Unilever has pursued under outgoing Chief Executive Paul Polman for years: buying small to midsized brands in high-growth areas.


Write to Saabira Chaudhuri at saabira.chaudhuri@wsj.com


(END) Dow Jones Newswires

December 19, 2018 07:01 ET (12:01 GMT)

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