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Unilever divests Slim-Fast business
July 10th, 2014
LONDON – Unilever has sold its Slim-Fast weight-loss brand to Kainos Capital, a private equity firm specializing in the food and consumer products sector.
Terms of the transaction weren't disclosed. Unilever said Thursday that the deal includes the Slim-Fast trademark and the global Slim-Fast business portfolio, and the company will retain a minority stake in the business.
"The Slim-Fast sale is the last step in the portfolio reshaping that we had planned for North America," stated Kees Kruythoff, president of Unilever North America. "This transaction, along with previously announced divestitures, will give us the focus to drive growth behind our core portfolio."
Slim-Fast's product line includes a range of snack bars, protein meal bars, protein meal shakes and protein shake mixes. The products are sold throughout North America and in the United Kingdom and Ireland.
Unilever acquired the line of ready-to-drink nutritional supplements in 2000, when Slim-Fast was a major weight-loss brand in the United States. But the brand had been losing money, according to Bloomberg News, as consumers shy away from crash diets as a weight-loss strategy.
Chris Tisi, the founder and chief executive officer of Healthy Delights, will become the new CEO of Slim-Fast, Kainos announced. Slim-Fast will become part of the company’s health and wellness portfolio, which includes Healthy Delights dietary supplements.
Kainos has made more than 40 investments, including deals involving such recognizable food brands as Ghirardelli chocolates, Chef Boyardee pasta, Bumble Bee tuna and Vlasic pickles.