Unilever sells the Romanian brands Frufru and Urban Monkey to the founder Mihai Simiuc

Consumer products manufacturer Unilever is selling the food and fruit juice brands Frufru and Urban Monkey under the Good People company to their founder, Mihai Simiuc, 5 years after the British giant acquired them.

The new deal does NOT include the production unit and the Frufru Cooperatives, Unilever announced in a recent statement.

“Mihai Simiuc is going to develop a new chapter for the Frufru and Urban Monkey brands, further promoting a healthy lifestyle. Unilever’s priority at this time is to support all colleagues impacted by this transformation. We are committed to fair and respectful treatment in line with our longstanding principles. We place a strong emphasis on the role of people and the team in shaping our business identity and we will provide our colleagues with all the necessary support during this transition period,” the British company said.

In 2019, Unilever bought the majority stake (75%) in Good People SA, the company behind the FruFru and Urban Monkey brands. Frufru, a brand of ready-made food, considered to have a balanced and healthy content, was launched in 2006, by the Romanian entrepreneur Mihai Simiuc.

Until the acquisition of Good People SA by Unilever, in 2019, other investors in Frufru were Sergiu Neguț, Philip Stefan Hausmaninger, Johann Gabriel Heubach, Maria Codruța Brujan, Marius Zaharia Gavril. They owned the 75% stake they sold to Unilever, according to data from the Bucharest Stock Exchange.

Mihai Dragoș Simiuc had kept the minority stake of 25% in Good People SA, the founder then remaining in the company even after Unilever bought the majority stake of 75%.