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Unilever Is Buying Mayo Upstart After Rebuffing Kraft

  • Company bets on hipster mayo, ketchup brand Sir Kensington’s
  • Consumer-product giant has vowed to boost investor returns
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Unilever, which rebuffed a $143 billion takeover proposal from Kraft Heinz Co. earlier this year, is betting that condiments can help re-energize its business.

The household-product giant, whose portfolio includes Hellmann’s mayonnaise and Ben & Jerry’s ice cream, agreed to buy Sir Kensington’s, an upstart food company that makes natural and non-GMO ketchup and eggless mayo. The price was about $140 million, people familiar with the transaction said.