UK-based Post Holdings, Weetabix breakfast cereal maker, has acquired UFit protein shakes brand owner Lacka Foods.
Founded in 2012, Lacka Foods manufactures high-protein and high-fibre shakes fortified with vitamins and minerals that also include a range of vegan, plant-based options made with pea protein and coconut milk.
According to sources, the company will operate independently after the transaction and no changes will be made to the management team.
Weetabix said in a statement: “The all-cash deal, backed by Post Holdings, unites two of the UK’s market-leading food and drink businesses and unlocks growth opportunities for Lacka Foods both in the UK and in international markets”.
“Securing investment from a like-minded British business and family favourite such as Weetabix is a transformational step in the Lacka Foods story and will help accelerate our pace of growth in a rapidly expanding category both here in the UK and internationally,” commented Austin Bailey, the director of Lacka Foods.
The cost of the acquisition wasn’t disclosed.
Sources: Just Food / The Business Desk