LONDON — Unilever on Thursday announced that it has sold its Slim-Fast brand to Kainos Capital. Unilever will retain a minority stake in the business.
“The Slim-Fast sale is the last step in the portfolio reshaping that we had planned for North America," stated Kees Kruythoff, president Unilever North America. "This transaction, along with previously announced divestitures, will give us the focus to drive growth behind our core portfolio.”
Sales of Slim-Fast 321 Plan ready-to-drink diet aids totaled $127.7 million, down 13.6%, for the 52 weeks ended May 18 across across total U.S. multi-outlet channels, according to IRI. Sales of the company's Slim-Fast 321 Plan snack bar totaled $7.1 million and were down 37.9%.
The transaction includes the Slim-Fast trademark and the global Slim-Fast business portfolio. Terms of the transaction were not disclosed.