Unilever has confirmed the acquisition of the holding company of Graze, the UK-based snacks business the FMCG giant was reported last week to be close to buying.
Graze, majority-owned by private-equity firm The Carlyle Group, was launched in 2008 by a group of friends brought together by Graham Bosher, the co-founder of LoveFilm.
The company was originally a subscription-only service selling boxes of nuts, seeds and similar healthy products.
As well as selling directly, Graze products are also distributed through bricks-and-mortar retailers in the UK and the US. Its holding company is ND1T Ltd.
Nitin Paranjpe, the president of Unilever’s food and refreshment arm, said: “Graze is the leading healthy snacking brand in the UK. A truly multichannel brand, Graze offers personalisation, convenience and great nutrition, brilliantly meeting the needs of millennial consumers.
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“Accelerating our presence in healthy foods and out of home this is an excellent strategic fit for the Unilever food and refreshment business and a wonderful addition to our stable of purpose-driven brands.”
Graze CEO Anthony Fletcher, who joined the business as head of marketing sales and innovation in 2009 from drinks maker Innocent, said the sale was a “transformational moment” in the company’s “growth journey”.
He added: “Graze has an incredibly exciting future ahead as part of Unilever and we look forward to working closely with the team to keep on inventing new healthy snacks, as well as continuing to work to understand the role technology can play in improving the food industry.”
When broadcaster Sky News reported Unilever’s interest in Graze last week, it cited an unnamed industry source who believed the snacks supplier would sell for GBP150 to GBP200m (US$194.3m to $259m).
The financial terms of the deal announced today were undisclosed, although Sky News said Unilever had paid GBP150m for Graze.
