Glanbia Plc, which sold the U.S. business of SlimFast to Heartland Food Products Group in September, just sold the UK and European assets of SlimFast to Supreme, “a leading manufacturer, supplier and brand owner of fast-moving consumer goods.” Price was £20.1 million ($27 million).
Founded in 1977 in the U.S., the weight management brand is known for its meal replacement shakes, bars, snacks and weight loss plans. For the year ended Dec. 31, 2024, SlimFast's UK and European assets reported unaudited revenue of £25.5 million and adjusted gross profit of £9.7 million.
Supreme apparently is a diverse UK holding company that supplies products across three operating divisions: Vaping, Drinks & Wellness and Electricals & Household.
This apparently is the last piece of SlimFast that Glanbia owned. Heartland, by the way, is the manufacturer of Splenda sucralose sweetener, drink mixes, coffee and nutritional beverages.
Although the price of the earlier U.S. sale was not disclosed, the two transactions are likely quite a markdown from the heyday of SlimFast. Unilever paid $2.4 billion for the business in 2000, then sold it to KSF Holdings LLP (Kainos Capital), which sold it to Glanbia in 2018 for $350 million.
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Dave Fusaro
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Dave Fusaro has served as editor in chief of Food Processing magazine since 2003. Dave has 30 years experience in food & beverage industry journalism and has won several national ASBPE writing awards for his Food Processing stories. Dave has been interviewed on CNN, quoted in national newspapers and he authored a 200-page market research report on the milk industry. Formerly an award-winning newspaper reporter who specialized in business writing, he holds a BA in journalism from Marquette University. Prior to joining Food Processing, Dave was Editor-In-Chief of Dairy Foods and was Managing Editor of Prepared Foods.