Lactalis said it had acquired Britain’s Protein Works, as the world’s largest dairy group continues to expand to meet fast-growing demand for protein-rich foods and nutrition products.
The French group has been building its presence in the protein market in recent years as consumers increasingly seek higher-protein products for fitness, weight management and general well-being. Its deals have included the 2018 acquisition of U.S. skyr brand Siggi’s.
Founded in 2012, Protein Works sells protein shakes, meal replacements, supplements and snacks. It generates annual revenue of about €65 million ($75.70 million), Lactalis said.
The Liverpool-based company sells directly to consumers online and operates a manufacturing site in the city, with additional sales across European markets including Germany, France and Italy.
Lactalis declined to disclose financial terms.
“By combining our longstanding expertise in dairy proteins and health nutrition with Protein Works’ strong brand and innovative approach, we are confident we can continue to create products that respond to changing consumer expectations in this dynamic and growing category,” Lactalis Chairman Emmanuel Besnier said in a statement.
Source: Reuters.com