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PRESS: Unilever Pays GBP150 Million For Healthy Snack Business Graze

5th Feb 2019 18:00

LONDON (Alliance News) - Consumer goods major Unilever PLC has acquired UK snack business Graze, the Financial Times reported on Tuesday.

Graze offers a subscription service through which it delivers snack boxes as well as retailing its low-calorie snack foods in a variety of stores such as Sainsbury's, Asda, and Boots.

The FT noted that while none of the involved companies had disclosed the value of the acquisition, "a person with direct knowledge of the transaction said Unilever paid around GBP150 million for the business".

This person was unnamed and is reported to have told the FT that the acquisition was "a very competitive process".

The newspaper called the deal a "sharp discount" to the GBP300 million US buyout firm Carlyle Group LP had wanted for the business.

In a statement, Unilever Food President Nitin Paranjpe said: "Accelerating our presence in healthy foods and out of home this is an excellent strategic fit for the Unilever food & refreshment business, and a wonderful addition to our stable of purpose driven brands."

https://www.ft.com/content/1d47bf1c-296a-11e9-a5ab-ff8ef2b976c7

Shares in Unilever closed up 2.0% Tuesday at 4,186.99 pence each.


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