Glanbia plc has today (Monday, October 20) announced that it has completed the sale of SlimFast UK, Ireland and certain other jurisdictions to Supreme plc.

Supreme is a manufacturer, supplier, and brand owner of fast-moving consumer goods.

The company supplies products across three operating divisions: vaping; drinks and wellness; and electricals and household

In a statement to the London Stock Exchange, Supreme said deal involves the acquisition of the trade and selected UK and European assets of SlimFast, which it described as "a market leader in meal replacement products".

The deal is valued at a total of approximately $27 million (€23 million), including $12 million (€10.2 million) of a deferred consideration due in 15 months' time.

Supreme said that it will fund the deal "through a mixture of its existing cash resources and utilisation of its asset-based lending facility".

SlimFast

Founded in 1977 in the US, SlimFast is a weight management brand, known for its meal replacement shakes, bars, snacks, and weight loss plans.

According to the statement, SlimFast has "a strong position" in formats including ready-to-drink and ready-to-mix powder products, as well as an 'Advanced Nutrition' range.

SlimFast's UK and European established sales footprint comprises Amazon, Home Bargains, B&M, Asda, Sainsbury's, Tesco, Boots, Superdrug, and Morrisons.

For the year ended December 31, 2024, SlimFast's UK and European assets reported unaudited revenue of around $34.2 million (£25.5 million) and adjusted gross profit of around $13 million (£9.7 million).

Acquisition

Supreme said that the deal is fully aligned with the company's ongoing mergers and acquisition strategy of adding highly recognised brands into its diverse portfolio.

The company said the acquisition will be "immediately earnings-enhancing" and will grow the company's retail network.

Supreme said it plans to move the manufacture of all powder products (40% of turnover) in-house, providing considerable scale to its manufacturing operations.

Sandy Chadha, chief executive officer of Supreme, said the SlimFast brand is "highly complementary" to the company's existing drinks and 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," he said

Glanbia

Last month, Glanbia confirmed the sale of SlimFast US and certain other jurisdictions to Heartland Food Products Group.

The value of that deal was not been disclosed by either party.

Heartland Food Products Group is the manufacturer of the Splenda brand of low calorie sweeteners, drink mixes, coffee, and nutritional beverages.

At that time, Glanbia noted that the deal to sell SlimFast US and certain other jurisdictions is subject to customary closing conditions.

SlimFast was designated by Glanbia as "non-core" in February 2025.