Unilever is selling healthy snack brand Graze to Candy Kittens, the vegan confectionery company co-founded by Made in Chelsea star Jamie Laing, in a deal worth an estimated £36m.
As part of the deal, the FTSE 100 consumer goods giant will hand over the struggling brand to Katjes International, which holds a majority stake in Candy Kittens. The sale is part of a broader restructuring at Unilever as Chief Executive Fernando Fernández seeks to refocus the group on better-performing beauty and personal care divisions and shed weaker assets.
Founded in 2005 as one of the UK’s first snack box subscription services, Graze gained notoriety for its portioned baskets of nuts, seeds and granola bars, sold in supermarkets nationwide. Unilever acquired the company from private equity firm Carlyle in 2019. At the time, a deal was reported to be worth up to £150m as enthusiasm for direct-to-consumer brands grew.
However, the momentum faded. Under Unilever’s leadership, Graze made no profit and posted losses of £8.7m last year as sales fell almost 10 per cent to £35.6m. Direct-to-consumer sales – once the brand’s key growth driver – have slumped in a more cautious post-pandemic consumer environment.
The sale price represents a significant discount to the 2019 valuation and highlights the challenges facing Unilever’s food portfolio.
The company is reportedly considering divestment of other British heritage brands – including Marmite, Colman’s and Bovril – and is preparing to spin off its entire ice cream division, which includes Magnum and Ben & Jerry’s, in an initial public offering expected later this month.
Unilever said Graze would benefit from more specialized leadership outside the group.
Georgina Bradford, general food manager for the UK and Ireland, said the brand was “well placed for its next phase of growth”, adding that a dedicated owner focused on healthy snacks would be better placed to realize its potential.
For Laing and Candy Kittens co-founder Ed Williams, the acquisition fulfills a long-held wish. The couple previously cited Graze as the inspiration for their own company, which was founded in 2012 and has become one of the UK’s fastest-growing confectionery brands.
“The addition of Graze to the Candy Kittens Group marks a turning point,” the company said.
Laing added: “I’ve always loved Graze – they’ve changed the way the UK thinks about healthier snacking and I think we can take that even further. I’m delighted by this transaction and grateful for the opportunity to continue to grow the Graze brand.”
Candy Kittens, known for its vegan sweets and colorful branding, first opened a store on Chelsea’s King’s Road in 2014 and used Laing’s TV profile to reach younger, health-conscious consumers. The acquisition of Graze represents the company’s biggest move to date and will significantly expand its presence in the £3bn healthy snacks market.
The sale is expected to be completed in the first half of 2026, subject to approvals.
