UK FMCG group Supreme has snapped up canned and bottled soft drinks producer Clearly Drinks.
In a stock-exchange announcement today (24 June), Supreme said it had acquired Clearly Drinks’ parent company Acorn Topco Limited for £15m ($19m).
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Supreme has bought the group from local private-equity firm NorthEdge Capital LLP, which has owned Clearly Drinks since 2017.
The purchase will help Supreme widen its product range and grow its total sales to “over £250m”, it said in a statement.
For 2023, Clearly Drinks booked £22.4m in unaudited revenue. Audited figures for the group on Companies House indicate the group hit £19.9m in 2022.
Commenting on the acquisition, Supreme CEO Sandy Chadha said the takeover would help to “[deliver] a significant component of our broader diversification strategy”.
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By GlobalDataThe multi-industry group’s portfolio includes sports-nutrition, vaping and lighting products.
Its sports and nutrition range includes vitamins and supplements brands Sealions and Millions & Millions, as well as the protein bars and shakes producers Battle Bites and Scimix.
The group also manufactures private-label powders, RTDs, meal replacements, snacks and tablets and capsules.
Supreme’s products are sold to more than 10,000 retailers, including Tesco, Sainsbury’s and Morrisons.
Chadha added: “Our enlarged business is not only gaining a strong additional pillar, which fully aligns with our vaping, lighting, batteries and sports nutrition and wellness categories, but also a significant opportunity to develop and capitalise on further cross and upsell opportunities which our trusted reputation across the UK retail space facilitates.”
Following the transaction, Clearly Drinks is expected to develop “further product extension” in Supreme’s sports nutrition and wellness segment, “to produce wellness and energy drinks”, the new owner said.
The deal will also enable both companies to benefit from “manufacturing synergies”.
Clearly Drinks will continue operations at its manufacturing site in Sunderland and will remain “independent of the other manufacturing operations within the Supreme group”, Supreme added.
Around 100 people work at the 150,000 square foot production plant which has an annual production capacity of around 350 million canned drinks.
Founded in 1885, Clearly Drinks owns a range of water brands, including its namesake flavoured waters, locally bottled and canned spring waters Northumbria Spring, and functional water label Revolution Waves.
It also produces juices, tonics and mixers and coffee-based drinks.
The group supplies its brands and private-label beverages to around 70 customers across the UK, including major retailers Tesco, Sainsbury’s, Waitrose and Aldi.
