Typhoo tea owner Supreme acquires business from Irish nutrition and food firm Glanbia for £20m
The owner of Typhoo tea has snapped up SlimFast’s UK and European business in a £20.1m deal as it seeks to expand in the weight management market despite fierce competition from GLP-1 weight-loss jabs.
The Irish nutrition and food company Glanbia has sold the low-calorie meal replacement shakes business to the British company Supreme after putting it up for sale earlier this year. Sales at the European operations have dropped, weighing on stronger trading in the US.
The SlimFast brand has come under mounting pressure from the rapid growth of weight-loss drug blockbusters such as Wegovy and Mounjaro, made by the pharmaceutical companies Novo Nordisk and Eli Lilly respectively.
SlimFast was launched in Florida in 1977 by S Daniel Abraham, who died in June at the age of 100. Sales took off in the late 1980s when diet culture became popular, and the former LA Dodgers manager Tommy Lasorda appeared in SlimFast television adverts.
