Candy Kittens has swooped to acquire Graze from Unilever as the confectionery supplier takes its first steps into the wider snacking category.
The sweets company, founded by Ed Williams and Made in Chelsea’s Jamie Laing in 2012, called the deal “a transformational first step” towards its long-term ambition to build “the UK’s leading family of future-consumer brands”.
Candy Kittens, which is owned by German group Katjes following a 2019 deal, has grown rapidly as distribution for its range of all-natural, plant-based confectionery expanded across mainstream grocery and convenience channels. Turnover at the profit-making business increased by 23% to £14.9m in 2024.
The business said the acquisition of Graze will accelerate its strategy of building a challenger brand with purpose, bringing together two B Corp “category-defining brands with powerful consumer followings and a shared belief in doing business the right way”.
“Graze is widely recognised as one of the most successful challenger brands of its generation,” said the brand. “Since the earliest days of Candy Kittens, Jamie and Ed have admired Graze for its disruption of healthier snacking, strong brand credentials, and its ability to make taste and health live together seamlessly.”
Candy Kittens ambition
No price has been disclosed for the acquisition but reports from Sky News last week put the value on a deal as low as £35m, a significant drop on the £150m paid by Unilever for Graze in 2019.
Graze has performed badly under Unilever’s ownership, failing to turn a profit since the 2019 deal as revenues tumbled from £55m to just £36m in 2024.
“Graze is a brand that we have admired since day one,” said Williams, Candy Kittens CEO. “Our long-term ambition is to build the UK’s leading family of future-consumer brands, and this acquisition is a huge statement about where we’re going and what we believe is possible.
“Graze has incredible brand strength, deep retail partnerships and a commitment to doing business the right way – values that all sit at the heart of Candy Kittens.”
Laing added: “I’ve always loved Graze – they changed the way the UK thinks about healthier snacking, and I think we can take that even further. I’m excited about this transaction and grateful for the opportunity to continue building the Graze brand.”
Bastian Fassin, managing shareholder of Katjes International, said: “Graze is one of the leading healthy snacking brands in the UK. With its strong brand awareness and strategic positioning, Graze is a perfect fit for our strategy to continue growing with strong consumer brands.”
Unilever completed an integration of Graze, which had operated independently from the wider group, last year, resulting in significant redundancies and the operations of the DTC business ceasing.
Georgina Bradford, Unilever foods general manager in UK & Ireland, said: “Graze has transformed into a retail-focused brand that continues to redefine healthy snacking with innovations that stay a step ahead on nutrition, never compromise on taste and remain true to its distinctive and much-loved style.
“The brand is now well positioned for its next phase of growth, which we are confident will be best unlocked under its new ownership with dedicated focus on its healthier snacking mission.”
Production is set to remain at Graze’s west London factory following the Candy Kittens acquisition.
Candy Kittens said Graze stood out as an innovator and continued to outperform the market with “many of its products”.
The sale represents another step forward in Unilever’s action plan, kicked off by former CEO Hein Schumacher in 2023, to focus on €1bn ‘power brands’, particularly in personal care and beauty. It follows the disposal of European food brands Unox and Zwan brand in 2024 and The Vegetarian Butcher earlier this year.
The Hellmann’s owner is also exploring a sale of British heritage brands Marmite, Bovril and Colman’s, with a process expected to kick off next year.
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