Unilever buys fancy ketchup maker Sir Kensington’s

Apr 20, 2017

Unilever, the European giant consumer products maker behind Lipton teas and Hellmann’s mayo, has agreed to purchase a tiny condiments maker that has won shelf space at Whole Foods and other retailers.

The New York Times has reported that Unilever has agreed to purchase Sir Kensington’s, which makes ketchup, mayonnaise, and mustard products that are all GMO free. Terms of the deal for Sir Kensington—which was founded in 2010—weren’t disclosed. The small food startup had raised $8.5 million in a Series A round back in 2015, a fundraising round led by consumer-brands focused investment firm Verlinvest, which also previously invested in Vitaminwater and Vita Coco.

The acquisition of Sir Kensington’s is the most notable deal from Unilever since it agreed to acquire Seventh Generation last fall. Unilever also generated headlines when it paid $1 billion for Dollar Shave Club last summer.

Read more at: http://fortune.com/2017/04/20/unilever-buys-sir-kensingtons/