Unilever announced Thursday it has received a binding offer from Vivera, a JBS-owned plant-based meat company, to acquire its The Vegetarian Butcher business.
Unilever purchased the plant-based meat brand from founder Jaap Korteweg in 2018 and has since expanded its footprint to 55 markets worldwide, including both retail and foodservice operations.
The move comes as Unilever aims to sharpen its overall portfolio on "fewer, bigger brands." The Vegetarian Butcher, officials noted, requires a "distinct supply chain and sourcing model" for its frozen and chilled products.
"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" Unilever Foods President Heiko Schipper said in a statement. "This focused expertise will support the brand in its ambitious goal to become the Biggest Butcher of the World.”
“The impressive and relentless dedication of the people of The Vegetarian Butcher have brought the vision of Jaap Korteweg to life on unprecedented scale and ‘sacrificing nothing,’" said Vivera CEO Willem van Weede. "Vivera is proud to unite with such like-minded believers in and experts of plant-based products, with the same big ambition towards a better and much more plant-based food chain."
The deal is expected to close in the third quarter of the year, subject to customary closing conditions. Financial terms were not disclosed.
