The deal is set to include Unilever’s BiFi brand, which is sold in Germany, Benelux, Austria and Switzerland, and Peperami, which is sold mainly in the UK and Ireland.
The acquisition, which is subject to customary closing conditions, is expected to be concluded by the end of March and includes Unilever’s manufacturing facility in Ansbach, Germany, according to a statement from Jack Link’s.
“Jack Link’s mission is to be the number one provider of branded meat snacks throughout the world,” said Troy Link, ceo of Jack Link’s Beef Jerky, in a statement. “This acquisition is a significant step in delivering on that mission.
‘Drive growth’
“BiFi and Peperami brands continue to drive growth in meat snacks in their respective territories. We are excited to welcome these brands to the family and look forward to working with all of our team members and retail partners to continue that success.”
Jan Zijderveld, Unilever Europe president, said: “BiFi and Peperami are two iconic local brands. As we continue to sharpen our portfolio to deliver sustainable growth for Unilever, we believe that the potential of these two brands can now be more fully realised with Jack Link’s.”
Jack Link’s, which has its headquarters in Minong, Wisconsin, claims to be the number one US meat snack brand and fastest growing meat snack manufacturer worldwide.
Unilever has worked for years now on a strategy to divest brands that it sees as non-core to its business.
In addition, in an analyst call in July last year, Unilever ceo Paul Polman said the firm had cut a fifth of its global stock keeping units (SKUs) and aimed to cut more. It sold its Bertoli olive oil and spreads business to Spanish firm Grupo SOS in 2008.