Global consumer goods company Unilever announced the sale of its Slim-Fast brand to Kainos Capital, a US private equity firm.
Terms of the transaction were not disclosed, but include the Slim-Fast trademark and global brand portfolio. Unilever will maintain a minority stake in the business.
Slim-Fast brand products are sold throughout North America, the UK and Ireland with a focus on weight loss and meal replacement through shakes, powders, snacks and bars.
According to Kees Kruyhuff, president of Unilever North America, the sale was the final step in shaping Unilever’s plans for business in North America.
In May, Unilever sold its Ragu and Bertolli pasta sauce brands to Japanese manufacturer Mizkan Group.
Kainos Capital said Slim-Fast will join its collection of health and wellness companies that currently includes Milk Specialties Global, InterHealth Nutraceuticals and Healthy Delights.