SlimFast’s UK and European business has been bought by the owner of Typhoo in a £20.1million deal.
Irish nutrition firm Glanbia has sold the meal replacement powders business to Supreme amid pressure on the brand from the rapid growth of weight loss drugs, such as Mounjaro and Wegovy.
Consumer goods business Supreme said the SlimFast brand will complement and expand its current drink and wellness operation.
Supreme’s boss Sandy Chadha said they are confident they ‘can enhance and broaden SlimFast’s market presence’.
SlimFast’s UK and European assets reported unaudited revenue of £25.5million and adjusted gross profit of £9.7million last year.
Supreme told shareholders that it plans to move manufacturing of all its powder products inhouse to improve profitability.
Trimming the fat: Irish nutrition firm Glanbia has sold SlimFast to Typhoo-owner Supreme in a £20.1m deal
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