Exciting news in the world of weight management! SlimFast has been taken over by Supreme, the company behind Typhoo tea, in a massive £20.1 million deal. This shakeup in leadership comes as SlimFast faces growing competition from popular weight loss drugs like Mounjaro and Wegovy. With this acquisition, Supreme is looking to expand its footprint in the drinks and wellness sector.
Supreme, which has been moving away from disposable vapes, is focused on building a strong roster of consumer brands. Besides snapping up SlimFast, their recent acquisitions include Clearly Drinks and sports nutrition supplier FoodIQ. Supreme’s CEO, Sandy Chadha, expressed excitement about the acquisition, mentioning SlimFast’s iconic status and potential in the growing wellness market. They plan to bring all manufacturing in-house, aiming for better profitability and product innovation.
Last year, SlimFast’s UK and European assets reported impressive earnings, with a revenue of £25.5 million and an adjusted gross profit of £9.7 million. This acquisition seems poised to elevate SlimFast’s presence even further. What do you think about these market moves? Share your thoughts in the comments!