Acquisition of protein manufacturing assets

Supreme has announced the acquisition, out of administration, of the trade and assets of protein manufacturer FoodIQ UK Holdings Limited for a consideration of £175,000. The acquisition brings Supreme a state-of-the-art, fully-automated contract manufacturing facility which was opened only 18 months ago at a cost of £1.2m. Situated in Hayes, West London the facility adds c.40% to Supreme’s wellness manufacturing capacity. It also provides a fully-accredited showcase for its wellness production capabilities and potentially opens up new customer opportunities.

Supreme derived c.69% of H1 revenue from its own brand and Elf Bar vaping products, however the Group has maintained its focus on development of its wellness products, with H1 growth (+17.5%YoY) for example boosted by a rebranding of its Sci-MX range of high protein powders, shakes and bars. Today’s acquisition further underlines the Group’s commitment to growth in its Wellness division.