Candy Kittens acquires Graze in thirtysix million pound deal as Unilever refocuses business

Candy Kittens, the vegan sweets business co founded by Jamie Laing, has agreed to acquire Graze in a thirtysix million pound deal as Unilever divests noncore brands. The transaction involves the sale of Graze to Katjes International, which controls a majority stake in Candy Kittens, underlining the shifting priorities of Unilever as it sharpens its focus on its beauty and personal care divisions following a period of restructuring.

Unilever, a FTSE 100 conglomerate with a diverse brand portfolio including Hellmanns and Dove, is accelerating efforts to streamline its business by divesting divisions that have underperformed. Graze, the snacks business founded in 2005 and known for its health focused nuts, seeds, and bars, has struggled in recent years to deliver profits. Revenues for Graze declined by 9.9 percent to thirtyfive point six million pounds last year, with losses reaching eight point seven million pounds, nearly doubling from the year prior amid weakening demand in the direct to consumer channel.

Unilever originally acquired Graze from Carlyle in 2019 as part of a strategy to bolster its direct to consumer offerings. However, market conditions and strategic priorities have shifted. The thirtysix million pound valuation for the deal represents a significant reduction from Graze’s estimated purchase price of up to one hundred fifty million pounds in 2019.

The sale follows recent reports that Unilever is contemplating the disposal of other legacy British brands such as Marmite, Colmans, and Bovril as it intensifies a cost cutting programme. Its ice cream division, which includes major names like Magnum and Ben and Jerrys, is expected to be spun off with a public offering slated for later this year.

The acquisition of Graze by Candy Kittens marks a strategic broadening for the London based confectioner, which has experienced rapid growth since its launch by Laing and Ed Williams in 2012. Graze will now join a group that has garnered attention for its innovation and appeal among health conscious consumers. Statements from both companies signal optimism about Graze’s prospects under the new ownership, emphasising the importance of dedicated management and synergy within the healthier snacking category. The transaction is expected to complete in the first half of 2026.