Atlantic Grupa, a Hungarian manufacturer of food and beverages, has announced it has sold its sports and functional nutrition division to the German food and beverage trading business Genuport for an undisclosed sum.
The transaction includes Multipower, described as one of the European leaders in the sports and functional food market, with a range of products and food supplements for athletes and recreational athletes, as well as the brands Champ and Multaben. The brands had combined sales in 2018 of 133.7 HRK ($20.2 million).
Atlantic Grupa said the deal represented the continuation of a corporate strategy of disinvesting non-core business operations, within which the firm’s sports and functional food production plants had already been previously sold to the Belgian supplement specialist Aminolabs.
Commenting on the deal, Neven Vranković, vice president for corporate activities, said: “The German company Genuport, as the distributor to date, enters into ownership of the market-established brands, with an excellent knowledge of the market as well as the potential of the brands within the sports and functional food segment, and as such, it made for a logical choice of partner in this process. We believe that Genuport will continue to develop the brands with a long tradition in a focused and committed manner, and that, by applying the knowledge it holds when it comes to distribution, it will position itself even better in this fast-growing market segment”.
Source: Atlantic Grupa