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Reality Star Buys Struggling Snack Brand
2 Dec
Summary
- Unilever sold the snack brand Graze to Candy Kittens.
- Candy Kittens was founded by Jamie Laing, heir to McVitie's fortune.
- Graze's sales dropped significantly since Unilever's 2019 purchase.
Unilever has divested its struggling snack brand, Graze, to Candy Kittens, a sweets business co-founded by Jamie Laing, an heir to the McVitie's biscuit fortune. This move is part of Unilever's broader strategy to offload certain brands and concentrate on its beauty and hygiene sectors.
Graze, recognized for its healthier snacking options like oat flapjacks and vegetable crisps, experienced a significant downturn in sales. Having been purchased by Unilever in 2019 for £150 million, its recent sales figures stood at £35.6 million, a considerable drop from its earlier performance.
Jamie Laing expressed enthusiasm for the acquisition, stating his admiration for Graze's innovation in healthier snacking and his belief in further enhancing the brand's offerings. While the exact financial terms of the deal were not disclosed by Unilever, reports suggest it could be valued as low as £35 million.
