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."
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