Supreme plc, the FMCG manufacturer and brand owner behind Typhoo Tea, has acquired the UK and European operations of SlimFast from Glanbia for a total consideration of £20.1 million ($27 million).

The deal includes the trade and selected assets of SlimFast across the UK and Europe, with £9 million of deferred consideration payable in 15 months. The acquisition will be funded through a combination of Supreme’s existing cash resources and its asset-based lending facility.

Expanding Supreme’s health and wellness portfolio

Founded in 1977, SlimFast is a heritage weight management and meal replacement brand, offering ready-to-drink shakes, bars, snacks and smoothies. The brand also operates in the high-protein and gluten-free nutrition space, catering to growing consumer interest in health and functional foods.

SlimFast’s products are distributed through leading retailers including Amazon, Asda, Sainsbury’s, Tesco, Morrisons, B&M and Home Bargains, and the deal will provide Supreme with new retail access to Boots and Superdrug.

For the year ended 31 December 2024, SlimFast’s UK and European business generated unaudited revenue of £25.5 million and adjusted gross profit of £9.7 million.

Strategic rationale and synergies

Supreme said the acquisition strengthens its position in the drinks and wellness category and provides a strong platform in the weight management market, projected to reach £1.5 billion by 2027 (Grand View Research).

The company also noted SlimFast’s relevance alongside the growing adoption of GLP-1 weight-loss treatments, where consumers increasingly seek protein and nutritional supplementation.

Supreme plans to move all SlimFast powder production in-house, representing around 40% of turnover, to drive scale and efficiency across its vertically integrated manufacturing operations.

Revitalising an iconic brand

Sandy Chadha, CEO of Supreme, commented:

“We are excited to have acquired such an iconic brand in SlimFast, which is highly complementary to our existing drinks and wellness category. Under our ownership and track record for product innovation, we see significant commercial opportunities to enhance and broaden SlimFast’s market presence.”

He added:

“There are huge opportunities to revitalise this brand and ensure it remains a key player in the rapidly growing health and wellness market. We’re investing in its future – expanding distribution and developing new product lines to bring SlimFast back to prominence with UK consumers.”

Building on growth momentum

The acquisition brings SlimFast under Supreme’s vertically integrated model, spanning development, manufacturing and distribution to over 55,000 UK retail outlets. Supreme’s strategy of acquiring and modernising heritage brands has helped drive annual revenues beyond £245 million.

The deal follows the recent acquisition of SlimFast US by Heartland Food Products Group, further dividing the brand’s global ownership structure.