Lactalis plots whey ahead with Protein Works deal

A dairy company has expanded with a takeover.

Lactalis has bought nutrition brand Protein Works.

Officials say the move will “further accelerate the brand’s growth in the UK and global markets”, while opening “a very exciting new chapter in the Protein Works story.”

They add all Protein Works’ staff have joined Lactalis, and have vowed to preserve the former’s “unique brand identity”.

Founded in 2012, Speke-based Protein Works’ portfolio includes meal shakes, wellness supplements and protein snacks.

The business, which has sold 500 million shakes to date, last year said it was fit to smash the £100 million sales barrier and create jobs after a headquarters expansion.

Lactalis, which operates a head office in Redhill, Surrey, is known for brands including President, Leerdammer and Cricket St Thomas, as well as a chilled dessert and yoghurt partnership with Nestlé.

Mark Coxhead, who founded Protein Works in a spare bedroom, said: “It’s been an incredible ride over the last 15 years.

“Seeing the brand in rude health, and ready for its next phase of exciting growth, makes me very proud.

“The sky is the limit for the brand.”

Nicola McQuaid, a portfolio partner at YFM Equity Partners, which has backed Protein Works since 2019, added: “Protein Works has been one of the standout investments in our portfolio.

“We identified the opportunity and helped build something that attracted the world’s leading dairy company.” 

Houlihan Lokey acted as exclusive corporate finance advisor to shareholders, with DWF providing legal counsel.

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