Unilever has announced that it is acquiring The Vegetarian Butcher, a Dutch manufacturer of plant-based meat substitutes.
In a media release, Unilever said this acquisition is part of the company’s strategy to expand its portfolio into more plant-based foods—a response to the growing trend, globally, toward consumers increasingly opting for vegetarian and vegan meals.
“The Vegetarian Butcher is a brand with a clear mission, many loyal ambassadors, a good following on social media and a strong position in the market,” said Nitin Paranjpe, president of foods & refreshment at Unilever, in a release. “The brand will fit in well within our portfolio of ‘brands with purpose,’ which have a positive social impact, are better positioned to meet the needs of consumers and are growing faster. Importantly, this acquisition will help us to accelerate our journey towards more plant-based food.”
The Vegetarian Butcher currently employs about 90 people, who are expected to remain with the business under the new ownership. The financial details are not being disclosed, but the acquisition is expected to be completed before the end of 2018.