Forget the Turkey, Unilever plc’s (LON:ULVR) pre-Christmas offering is the purchase of The Vegetarian Butcher, a fast-growing Dutch producer of plant-based meat replacements, according to Reuters .
The newswire report noted that the takeover will see the Anglo-Dutch consumer products giant acquire the maker of vegetarian hamburgers, imitation meatballs and fishless tuna for an undisclosed sum.
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The Dutch company was founded in 2007 by farmer Jaap Korteweg, who together with scientists and chefs created plant substitutes that could rival the taste and texture of real meat, it added.
The Vegetarian Butcher’s products are sold in over 4,000 stores in 17 countries, and last year sales increased to over €10mln.
The two companies have been working together since 2016, with Unilever introducing vegetarian meatballs under its Unox brand name.
The moves extends Unilever’s strategy of increasing its range of plant-based foods as consumers increasingly tend to eat less meat out of health and environmental concerns.