Unilever has entered into an agreement with Kainos Capital to divest Slim-Fast, a brand of shakes, bars, snacks, packaged meals, and other dietary supplement foods.
The transaction includes the Slim-Fast trademark and the global Slim-Fast business portfolio. Slim-Fast is sold throughout North America and in the UK and Ireland.
Unilever North America president Kees Kruythoff said that 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," Kruythoff added.
Terms of the transaction were not disclosed.
Slim-Fast was established in 1977 as a product line of the Thompson Medical Company, founded in the 1940s by S Daniel Abraham. Abraham took the brand private in 1987, and it was acquired by Unilever in 2000.
