Swedish leader in organic and health foods and self-care Midsona has announced the acquisition of the sports nutrition brand Gainomax from the dairy cooperative Norrmejerier, for SEK60 million (£5.2 million).
Gainomax is one of the most-known sports nutrition brands of functional and exercise recovery products in Sweden with sales of approximately SEK80 million (£6.97 million) in 2019.
Norrmejerier, a dairy cooperative owned by 422 local farmers, said that this sale is “in line with the strategy to ensure continued good payment capacity and a stable settlement price to the Northern dairy farmers”, as well as, “focus on the products and brands that provide the most sales”.
Peter Asberg, CEO of Midsona, commented on the acquisition: “Gainomax’s brand and assortment complement our already existing portfolio in sports nutrition in Sweden and give us a nice platform to grow from in the other Nordic countries as well.”
Sources: News Cision