Source - Alliance News

Supreme PLC - Manchester-based consumer products manufacturer and supplier - Acquires the trade and assets of protein manufacturer FoodIQ UK Holdings Ltd out of administration for £175,000. Says the acquisition provides it with access to a ‘purpose-built, state-of-the-art, accredited, automated contract manufacturing facility that opened only 18 months ago and cost almost £1.2 million 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%. Chief Executive Officer Sandy Chadha says: ‘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.’

Current stock price: 113.00 pence, down 0.4% in London on Friday

12-month change: up 17%

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