Unilever Selling Slim-Fast Brand To Kainos Capital
NEW YORK (AP) -- Unilever said Thursday it sold its Slim-Fast brand to the private equity firm Kainos Capital.
The companies did not disclose terms of the sale. Unilever said it will keep a minority stake in Slim-Fast, which sells weight loss and nutrition products in North America, the U.K., and Ireland.
Kainos Capital, based in Dallas, invests in food and consumer companies.
Unilever PLC bought Slim-Fast in 2000. The consumer products maker, which owns brands including Dove and Hellmann's, said in April that it was reviewing its options for the business as well as its North American pasta sauces division.
U.S. shares of Unilever lost 65 cents to $44.61 in afternoon trading.