Unilever is reportedly in the process of putting Dutch meat alternatives brand The Vegetarian Butcher up for sale, according to Sky News and other sources.

Unilever first acquired the meat-free brand in 2018, aiming to expand its reach into the plant-based food category and meet consumer demand for vegetarian and vegan alternatives. The brand was founded in 2007 by Jaap Korteweg, a ninth-generation meat farmer who turned vegetarian and recognised the need for high-quality meat alternatives.

Now, according to Sky News’ report, the food giant is working with investment bank Piper Sandler to offload the brand and find a buyer. The news outlet said its industry sources confirmed ‘a number of potential buyers’ had already been approached. When approached by The Plant Base, Unilever declined to provide comment.

As part of its ‘Future Foods’ initiative, Unilever last year announced a new target to reach €1.5 billion in sales by 2025 from plant-based products in categories whereby the products are traditionally made using animal-derived ingredients.

The company has expanded its range of dairy-free and vegan products in recent years, including the launch of its Hellmann’s Plant Based Mayo, and new dairy-free variants of its Magnum ice creams.

The potential sale could form part of broader plans for Unilever to “prune” its portfolio of food brands, the company’s CEO, Hein Schumacher, reportedly told investors last week. The brands under consideration for offloading are thought to generate around £1 billion in annual sales.

Earlier this month, Reuters reported that the company is also exploring the sale of other Dutch brands including Unox and Conimex.

These latest developments follow a series of major changes announced by the group as it revealed plans to implement a cost-saving programme and spin off its ice cream business, a transition expected to be complete by the end of next year.

Image: © Unilever

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