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Unilever reportedly plans to slim down its large portfolio by selling The Vegetarian Butcher.
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According to Sky News, Unilever is working with the investment bank Piper Sandler to auction off The Vegetarian Butcher, a plant-based meat brand based in the Netherlands.
The British consumer goods giant is the sixth largest in the world with a roster of 400 brands. It is likely streamlining to focus on its international megabrands, such as Hellman’s, which make up over 70 percent of sales, according to a Reuters report from February.
The news comes despite Unilever’s goal of EUR €1.5 billion in sales per year from plant-based products by 2025. Last week, Unilever Chief Executive Hein Schumacher told investors he wanted to “prune” the company’s food brands, per the Financial Times.
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The Vegetarian Butcher shows strong sales growth
Former animal farmer Jaap Korteweg and politician and animal rights advocate Niko Koffeman founded The Vegetarian Butcher in 2007 after Korteweg adopted a meat-free diet.
Unilever purchased The Vegetarian Butcher in 2019 for an undisclosed sum during a boom in plant-based meat production and sales. While the current economic climate has proven challenging for some plant-based meat brands – particularly in the Netherlands – The Vegetarian Butcher has reportedly continued to show strong growth in sales volume.
The Vegetarian Butcher’s products are now available in over 40,000 retail locations across 55 countries, including Ocado, Sainsbury’s, and Tesco. The brand also has significant ongoing partnerships with huge food service brands such as Domino’s and Burger King.
Several potential buyers have reportedly already been approached by Unilever, but The Vegetarian Butcher’s sale valuation is as yet unclear. Collectively, the brands earmarked for future sale by Schumacher are worth around GBP £1 billion in annual sales.
Read more: Plant-Based Meat And Milk Offer Similar Or Better Nutrition Than Animal Products, Study Finds
