USA: Unilever acquires Sir Kensington’s
FMCG multinational Unilever has announced the purchase of start-up company Sir Kensington’s, a condiment firm based in New York.
Sir Kensington’s is described by Unilever as a pioneer and leader in condiments sold in the organic and natural marketplace, producing premium mustard, ketchup, mayonnaise and also a vegan mayonnaise called Fabanaine, made from aquafaba.
Kees Kruythoff, President of Unilever North America said: "Sir Kensington’s is an innovative business with outstanding products and a leader in the organic and natural marketplace. We look forward to leveraging our joint understanding of food trends and consumer preferences to significantly grow the business".
Sir Kensington’s founders Mark Ramadan and Scott Norton commented: "We’re honoured to partner with such a progressive and purpose-driven company in this next chapter. Working with Unilever will allow us to more rapidly expand distribution while holding true to our values as we help define the next generation of good food".
The investment comes after Unilever put its spreads division up for sale, and recently reported turnover of €13.3 billion ($14.4 billion) in Q1 2017, a rise of 6%.
Unilever has reportedly acquired the company for $140 million.