The Vegetarian Butcher becomes latest move in plant-based meat consolidation [Yahoo! Finance]
Unilever PLC American Depositary Shares (each representing One Ordinary Share) (UL)
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Source: Yahoo! Finance
The transaction, however, has sparked questions about how JBS, the meat giant that's the new owner of The Vegetarian Butcher, will look to grow the brand's sales, especially in a market where the going has proved a lot tougher than some in the sector were suggesting a few years ago. But, first, to Unilever's rationale, with the FMCG giant receiving some criticism among the plant-based industry's proponents. That Unilever has offloaded the Dutch-based business is little surprise. It was only in November that UK broadcaster Sky News said Unilever had hired bankers to work on selling the assets. Bought seven years ago, Unilever, which under previous CEO Hein Schumacher had been looking to dispose of assets in food, clearly didn't see a future for The Vegetarian Butcher in its slimmed-down portfolio in the sector. Last month, Unilever announced the surprise departure of Schumacher (after just 18 months in the role) and the promotion of CFO Fernando Fernandez to the top job. A desir
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