Mon, 05 Jul 2021 | BUSINESS SALE
UK food company Samworth Brothers has announced that it has sold the brands and assets of its sports nutrition business Sci-Max to Supreme Imports.
According to Supreme, which is based in Manchester, the Sci-Max and Pro2Go brands were both purchased from the food form for an undisclosed sum, while the companies' stock was bought for an additional £1.3 million.
Sci-Mx, a specialist in sports products such as protein bars and powders, was originally purchased by Samworth in 2015. Previously, Samworth was known for focusing on chilled and shelf foods such as Ginsters pasties and Soreen malt loaves.
However, a spokesperson from Samworth revealed that the Sci-Mx business has been loss making "for several years" despite strong levels of investment, adding that the company's issues were not aided by dramatic changes in the sports nutrition sector in the last few years.
"We have concluded that the business is not at a scale where we can make it work and the levels of investment that would be needed to achieve this do not make good economic sense," he said.
Commenting on the acquisition, Supreme Imports stated that it hoped Sci-Mx would prove more successful as part of its growing portfolio.
CEO Sandy Chadha said in a statement: "The acquisition adds a number of leading and long-established retail brands to the group’s growing sports-nutrition and wellness category across protein powders and supplements.
"The acquisition not only broadens our product offering and delivers further scale to this segment, but also leaves us ideally placed to create additional sales traction across our extensive retail footprint in what is becoming an ever more important category for the group."
Greek food delivery business based in the busiest part of London. The business is operating for more than 3 years and serving bar customers, the worker's lunch with a kiosk facing the street, and also delivery platforms (Deliveroo, Uber Eats, and Ju...
LEASEHOLD
A technology focussed company, operating an international private chef service where it provides its clients with restaurant quality experiences at affordable prices in the comfort of their own homes or holiday accommodation. As an innovative oper...
LEASEHOLD
The business was originally established back in 2010, before the current owners took over in 2018. The business has built up an excellent reputation during its time of trading. As seen by the online ratings and reviews, the business is extremely popu...
LEASEHOLD
26
|
Jan
|
UK M&A down 16 per cent in 2022, but sentiment remains optimistic | BUSINESS NEWS
New analysis from PwC has revealed that UK M&A activity decl...
26
|
Jan
|
Private equity-backed law firm targeting further M&A in 2023 | BUSINESS NEWS
Stowe Family Law, a Leeds-headquartered specialist family la...
25
|
Jan
|
Eastbourne seafront hotel on the market for £2.3m | COMMERCIAL PROPERTY
The Eastbourne Riviera Hotel, located on the town’s po...
Sign up to receive our acquisition alert emails to get your FREE guide
10
|
Aug
|
Adelie Foods’ Urban Eat brand acquired by Samworth Brothers | BUSINESS SALE
Samworth Brothers has completed the £6.4 million acqui...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources