UK food manufacturer Uniq has sold the Shape yoghurt brand to Danone of France for £32m (US$49m).
The deal took analysts by surprise, as Swiss giant Nestlé was widely touted to take Shape, following its acquisition of Northern Foods’ Ski brand earlier this year. Uniq put Shape and other St. Ivel brands such as Utterly Butterly on the market in June as it followed its plan to focus more intensely on chilled convenience foods in the UK and Europe.
Uniq boss Bill Ronald said the deal would contribute to debt reduction and offload a sluggish brand that needed investment. The deal does not include the Shape plant in Swindon, which will be sold off next year.
