|Slim-Fast products include protein meal bars, snack bars and protein shakes and mixes.|
LONDON – Unilever has sold a majority stake in its Slim-Fast business to Kainos Capital. Terms of the transaction were not announced, but Unilever said it would maintain a minority stake in the brand.
Based in Dallas, Kainos Capital is a middle market private equity firm focused on the food and consumer segment. Other food and beverage businesses within the firm’s portfolio include InterHealth Nutraceuticals, Milk Specialties Global and Healthy Delights.
Chris Tisi, the chief executive officer of Healthy Delights, will take over as the c.e.o. of Slim-Fast, according to Kainos Capital.
"There is great opportunity to grow the Slim-Fast brand, which already benefits from the highest aided and unaided brand awareness in the weight management category,” Mr. Tisi said. “I look forward to working with our retail partners and driving consumer engagement with dynamic marketing support and new product innovation.”
Other divestitures made by Unilever include the sale of the Ragu and Bertolli brands to the Mizkan Group; its Wish-Bone dressings business to Pinnacle Foods; and Skippy peanut butter to Hormel Foods.“The Slim-Fast sale is the last step in the portfolio reshaping that we had planned for North America,” said Kees Kruythoff, president of Unilever North America. “This transaction, along with previously announced divestitures, will give us the focus to drive growth behind our core portfolio.”