Unilever has announced that it has sold its weight-loss brand range Slim-Fast to the private equity firm Kainos Capital for an undisclosed sum.
The transaction, which includes the Slim-Fast trademark and the global Slim-Fast business portfolio, will see Unilever retain a minority stake in the business, the company announced in a statement. The brand is sold throughout North America and in the United Kingdom and Ireland.
The announcement comes a number of months after rumours first circulated that the brand might be up for sale. The divestment of the Slim-Fast brand is only one in a number of recent Unilever sell-offs as the company looks to streamline its brand portfolio.
Kees Kruythoff, president of Unilever North America, said: “The Slim-Fast sale is the last step in the portfolio reshaping that we had planned for North America. This transaction, along with previously announced divestitures, will give us the focus to drive growth behind our core portfolio”.