The Manchester consumer goods and vaping company behind Typhoo Tea and Perfectly Clear has vowed to bring new life to SlimFast after buying the brand in the º£½ÇÊÓƵ and Europe in a £20m deal.
Irish group Glanbia after the meal replacement powders business was disrupted following the growth of high-profile weight-loss GLP-1 drugs
Supreme said it has bought the business for a total of £20.1m, with a deferred £9m payment also due in 15 months.
SlimFast’s new owner says it believes the brand is “ideally placed to capitalise on the growing demand for GLP-1 products, which require nutrition and protein supplementation both during treatment and as an ideal ‘follow-on’â€.
Supreme chief executive Sandy Chadha said: “SlimFast is one of the most recognised and well-established names in nutrition. We’re excited to bring fresh energy to this iconic brand and reposition it for the next generation. With SlimFast, we want to focus on supporting people of all ages and demographics, ensuring they have options on the shelf to make the right choices for their own individual health and wellness journeys.â€
He added: “There are huge opportunities to revitalise this brand and ensure it remains a key player in the rapidly growing health and wellness market. We’re investing in its future, putting plans in place to expand the distribution channels and product lines to ensure that SlimFast will be back where it belongs on the shelves, in the fridges, and in the hearts of º£½ÇÊÓƵ shoppers.â€
SlimFast, founded in America in 1977, is known for products including meal replacement shakes, bars and snacks. In the º£½ÇÊÓƵ and Europe, its products are on sale at retailers including Amazon, Home Bargains, B&M, Asda, Sainsbury’s, Tesco and Morrisons.
SlimFast will join Supreme’s Drinks & Wellness division alongside Typhoo Tea, Glengettie Tea, Perfectly Clear flavoured water, Rola Cola and Red Mountain Coffee.
Supreme’s other business arms are Vaping and Electricals & Household, which includes batteries and lighting products.
