Unilever swallows healthy food tech startup Graze - City A.M.

Retail giant Unilever has agreed a deal to buy UK healthy snacks firm Graze at a reported valuation of £150m.

Founded in 2008, the brand had raised just £2m from London investors Octopus Ventures and Draper Esprit before being acquired by US buyout group Carlyle in 2012.

The bidding war for Graze had garnered interest from the likes of Pepsi and Kellogg's before Unilever successfully sealed the deal. Carlyle was initially hoping to attract around £300m for the tech firm, according to reports.

Initially starting out life as a customisable snack box delivery service, Graze's products are now sold in major supermarkets such as Boots, Sainsbury's and Costco.

Graze joins the ranks of a range of popular brands owned by Unilever, including Ben & Jerry's ice-cream and Marmite.

The move comes after Unilever boss Alan Jope said in the company's earnings report last week that it would be focusing on accelerating growth in the business, after disappointing investors by missing key estimates.

Graze chief executive Anthony Fletcher called the deal "a transformational moment in Graze’s growth journey".

Nitin Paranjpe, president of Unilever's food and refreshment business, said the retail conglomerate would utilise Graze's technology for other parts of its e-commerce portfolio.

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