Unilever on Dec. 19 said it will acquire The Vegetarian Butcher BV as part of its plans to expand its plant-based portfolio.
The Vegetarian Butcher offers meat substitute products including burgers, hot dogs and ready meals. The Dutch company's goods are sold in more than 4,000 outlets across 17 countries. It employs about 90 people, who are expected to remain with the business following the deal.
The Vegetarian Butcher and Unilever have worked together since 2016 when they jointly launched vegetarian meatballs marketed under Unilever's Unox brand.
"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. 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," said Nitin Paranjpe, president for foods and refreshment at Unilever.
Financial terms were not disclosed. The deal is expected to be completed by 2018-end.
Unilever, whose listed entities are Unilever PLC and Unilever NV, on Dec. 3 announced an agreement to acquire the health food drinks brands of U.K. pharmaceuticals company GlaxoSmithKline PLC in a €3.3 billion deal.