SlimFast-owner will get into form with launch of weight-reduction plan model sell-off

The proprietor of SlimFast has kicked off a sale of the burden loss model after hiring advisers to orchestrate an public sale.

Sky Information understands that Glanbia, the Irish-based firm, is working with bankers at Houlihan Lokey on a course of to exit its weight administration portfolio.

Dubbed Mission Lego, a sale would come greater than 45 years after SlimFast was based.

Cash newest: Tesla takes $150bn hit as Musk-Trump row explodes

Saying the choice to promote SlimFast in February, Mark Garvey, Glanbia’s chief monetary officer, mentioned: “We have determined to maneuver on.

“There’s a vital change in how weight administration is being managed by shoppers.”

Weight-reduction plan manufacturers similar to SlimFast have been hit exhausting by the rise of weight reduction medicine Wegovy and Ozempic in recent times.

Sources mentioned that Glanbia’s advisers had been advertising the SlimFast enterprise primarily based on a pipeline of latest product developments and model positioning.

A sale is predicted to be finalised later this yr, relying upon the worth supplied by potential consumers.

Glanbia declined to remark.