Supreme buys SlimFast UK & Europe for £20.1m

(Sharecast News) - AIM-listed Supreme said on Monday that it has bought the trade and selected UK and European assets of SlimFast for £20.1m in cash from nutrition and food company Glanbia. Founded in 1977 in the US, SlimFast is a heritage weight management brand, known for its meal replacement shakes, bars, snacks, and weight loss plans, Supreme said.

It said SlimFast has a strong position in formats including ready-to-drink and ready-to-mix powder products, as well as an 'Advanced Nutrition' range, which includes high-protein, high-fibre, gluten-free meal replacement shakes and smoothies.

For the year ended 31 December 2024, the company's UK and European assets reported unaudited revenue of £25.5m and adjusted gross profit of £9.7m.

Supreme - a manufacturer, supplier, and brand owner of fast-moving consumer goods - said the acquisition will be immediately earnings enhancing.

Chief executive Sandy Chadha said: "We are excited to have acquired such an iconic brand in SlimFast, which we believe is highly complementary to our existing Drinks & Wellness category.

"Under our ownership and track record for product innovation, we believe the commercial opportunities to both enhance and broaden SlimFast's market presence makes it an ideal addition to our business."

At 1120 BST, the shares were up 5.1% at 165p.