Unilever is considering selling off underperforming healthy snack brand Graze, as it aims to invest in personal care and beauty, according to a report.

It reports that the parent company of Dove has been actively seeking buyers among consumer food groups, sources close to the Financial Times reported.

Unilever is allegedly exploring sales for an amount valued between £50m and £80m.

The healthy snack brand has lost significant value over the years, previously being acquired by Unilever for £150m in 2019.

The brand has struggled to stay afloat since its acquisition, reporting recurring operating losses based on filings at the UK Companies House. Graze reported a weak performance in 2023, with revenue plunging by 11% to £40m, down from £55.9m in the year prior.

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The healthy snacks range was founded in 2005 as a direct to consumer (DTC) brand under a delivery service, prior to expanding to supply bricks-and-mortar retailers in 2015. The company stated that a slowdown in overall sales and a drop in consumer sentiment led to its financial struggles.

This move may be a part of Unilever’s strategy to streamline its portfolio of brands and focus on building its personal care and beauty. It acquired personal care brand Wild in April. Additionally, the company offloaded The Vegetarian Butcher to Vivera.

Fernando Fernandez was promoted to CEO of the company in March and has since been at the helm of the company and leading its turnaround strategy.

Unilever has not disclosed any official statement and declined to comment.