ENGLEWOOD CLIFFS, N.J. — Unilever P.L.C. has signed an agreement to acquire Sir Kensington’s, a New York-based condiment manufacturer. Terms of the transaction were not disclosed.
“When Kees Kruythoff, president, Unilever North America, and Matthew McCarthy, vice-president of foods for North America, approached us with an invitation to join the Unilever family, we knew this decision could not be taken lightly,” Sir Kensington’s said in a web posting written by co-founders Mark Ramadan and Scott Norton. “When we first met them, our business was not for sale. We had planned on running Sir Kensington’s independently for the foreseeable future, not believing our young company was ready to move beyond our stewardship and responsibility. Over the course of the following months, it became clear that their organization was the ideal long-term home for Sir Kensington’s.”
Sir Kensington’s partnership with Unilever will allow the company to more rapidly expand distribution, Mr. Norton said. He and Mr. Ramadan, who is also chief executive officer, said they plan to continue to run the business and founders and leaders of the Sir Kensington’s team.
“You may wonder, what is the company that makes Hellmann’s doing acquiring Sir Kensington’s, and why should we trust them?” Sir Kensington’s said in the web posting. “The truth is, food is changing in this country and it’s changing for the better. As a company, Unilever is looking for Sir Kensington’s to help them define the future of good food. This need for change is not a new revelation. Ranked number one on Dow Jones’ Sustainability Index, they responsibly source their ingredients and work with suppliers for higher animal welfare standards, such as 100% cage free eggs for Hellmann’s."
Launched in 2010, Sir Kensington’s produces condiments sold in the natural and organic marketplace made with Non-GMO Project verified, sustainably sourced ingredients. The company’s portfolio includes mustard, ketchup, mayonnaise and a vegan mayo made from aquafaba called Fabanaise.
|Kees Kruythoff, president of Unilever North America|
“We are excited to bring Sir Kensington’s into the Unilever family,” Mr. Kruythoff, said. “Their mission to bring ‘integrity and charm to ordinary and overlooked food’ is very much in line with our Unilever Sustainable Living Plan. Sir Kensington’s is an innovative business with outstanding products and a leader in the organic and natural marketplace. We look forward to leveraging our joint understanding of food trends and consumer preferences to significantly grow the business.”
Unilever announced earlier this month that it would combine its Foods and Refreshment businesses into one organization and sell its Spreads business as part of its Connected 4 Growth (C4G) restructuring initiative. The program also includes plans to evolve its portfolio through acquisitions and develop more channels to sell its products.