The proprietor of SlimFast has kicked off a sale of the burden loss model after hiring advisers to orchestrate an public sale.
Dubbed Venture Lego, a sale would come greater than 45 years after SlimFast was based.
Cash newest: Tesla takes $150bn hit as Musk-Trump row explodes
Glanbia has owned the model since 2018, when it paid $350m for the enterprise.
Asserting the choice to promote SlimFast in February, Mark Garvey, Glanbia’s chief monetary officer, mentioned: “We’ve decided to move on.
“There’s a vital change in how weight administration is being managed by customers.”
Weight-reduction plan manufacturers corresponding to SlimFast have been hit arduous by the rise of weight reduction medication Wegovy and Ozempic in recent times.
Sources mentioned that Glanbia’s advisers have been advertising and marketing the SlimFast enterprise based mostly on a pipeline of recent product developments and model positioning.
A sale is anticipated to be finalised later this yr, relying upon the worth provided by potential patrons.
Glanbia declined to remark.
