Acquisition of protein manufacturing assets

Supreme PLC

05 January 2024

 

Reach

5 January 2024

Supreme plc

("Supreme" or the "Company" or the "Group")

Acquisition of protein manufacturing assets

Supreme plc (AIM: SUP), a leading manufacturer, supplier and brand owner of fast-moving consumer products is delighted to announce the acquisition out of administration of the trade and assets of FoodIQ UK Holdings Limited ("Food IQ"), the protein manufacturer, for consideration of £175,000.

Principally, the acquisition provides Supreme with access to a purpose-built, state-of-the-art, accredited, automated contract manufacturing facility that opened only 18 months ago and cost almost £1.2m to build. Supreme plans to keep the facility operational from its site near London and expects that the facility will increase Supreme's wellness manufacturing capacity by around 40%.

Sandy Chadha, Chief Executive Officer of Supreme, commented:

"We are delighted to have completed this acquisition, which provides our fast-growing Sports Nutrition & Wellness division with the manufacturing capacity required to meet growing demand. We have used Food IQ in the past to manage capacity requirements in our Sports Nutrition & Wellness division so are familiar with their capability."

Enquiries:

Supreme plc Sandy Chadha, Chief Executive Officer Suzanne Smith, Chief Finance Officer	via Vigo Consulting
Shore Capital (Nominated Adviser and Joint Broker) Mark Percy / David Coaten / Rachel Goldstein - Corporate Advisory Ben Canning - Corporate Broking	[phone]
Zeus (Joint Broker) Jordan Warburton / Alex Campbell-Harris - Investment Banking Benjamin Robertson - Corporate Broking	[phone]
Vigo Consulting (Financial Public Relations) Jeremy Garcia / Kendall Hill [e-mail]	[phone]

About Supreme

Supreme supplies products across five categories; Batteries, Lighting, Vaping, Sports Nutrition & Wellness, and Branded Distribution. The Company's capabilities span from product development and manufacturing through to its extensive retail distribution network and direct to consumer capabilities. This vertically integrated platform provides an excellent route to market for well-known brands and products.

The Group has over 3,300 active business accounts with retail customers who manage over 10,000 branded retail outlets. Customers include B&M, Home Bargains, Poundland, Tesco, Sainsburys, Morrisons, Amazon, The Range, Costcutter, Asda, Halfords, Iceland and HM Prison & Probation Service.

In addition to distributing globally-recognised brands such as Duracell, Energizer and Panasonic, and supplying lighting products exclusively under the Energizer, Eveready, Black & Decker and JCB licences across 45 countries, Supreme has also developed brands in-house, most notably 88Vape and has a growing footprint in Sports Nutrition and Wellness via its principal brands Sci-MX and Battle Bites.

https://investors.supreme.co.uk/

 

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