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SlimFast’s European arm sold after struggling to compete with weight-loss drugs

about 8 hours ago
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The owner of Typhoo tea has snapped up SlimFast’s UK and European business in a £20.1m deal as it seeks to expand in the weight management market despite fierce competition from GLP-1 weight-loss jabs.The Irish nutrition and food company Glanbia has sold the low-calorie meal replacement shakes business to the British company Supreme after putting it up for sale earlier this year.Sales at the European operations have dropped, weighing on stronger trading in the US.The SlimFast brand has come under mounting pressure from the rapid growth of weight-loss drug blockbusters such as Wegovy and Mounjaro, made by the pharmaceutical companies Novo Nordisk and Eli Lilly respectively.

SlimFast was launched in Florida in 1977 by S Daniel Abraham, who died in June at the age of 100,Sales took off in the late 1980s when diet culture became popular, and the former LA Dodgers manager Tommy Lasorda appeared in SlimFast television adverts,The brand was sold in 2000 to Unilever for £1,4bn and changed hands again later,Unilever sold it in 2014 to the US private equity firm Kainos Capital, after sales began to fall sharply from 2003 when the Atkins diet craze hit the US, its biggest market.

Kainos offloaded SlimFast to Glanbia for $350m (£261m) four years later.The Manchester-based consumer goods company Supreme, which bought the Typhoo tea brand out of administration last year and also makes batteries and vaping products, said the acquisition would fit well into its drinks and wellness division.It said the deal would help to expand its presence in the weight management market – a market that is projected to reach £1.5bn by 2027.Sandy Chadha, its chief executive, said: “We are excited to have acquired such an iconic brand in SlimFast, which we believe is highly complementary to our existing drinks and wellness category.

“Under our ownership and track record for product innovation, we believe the commercial opportunities to both enhance and broaden SlimFast’s market presence makes it an ideal addition to our business.”Glanbia put the business up for sale in February.Its chief financial officer, Mark Garvey, said at the time: “We’ve decided to move on because we believe there is a significant change in how weight management is being managed by our consumers.”Sign up to Business TodayGet set for the working day – we'll point you to all the business news and analysis you need every morningafter newsletter promotionSlimFast UK and Europe made sales of £25.5m and an estimated pre-tax profit of £6m-£7m last year.

It says its products contain vitamin, minerals and protein, and they come in flavours such as strawberry, cafe latte and chocolate.The powders are mixed with skimmed milk to make shakes.It also sells drinks and snacks.It is the latest acquisition designed to strengthen Supreme’s drinks portfolio.To diversify its vapes and batteries business, the company acquired Clearly Drinks, a UK maker of spring water and soft drinks dating back to 1885, in June 2024, followed by the 122-year-old Typhoo last year.

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My cultural awakening: ‘The Specials helped me to stop fixating on death’

My anxious disposition means I think about death a lot. But a cluster of people I loved dying in 2023, and most of them unexpectedly and within a few months of each other, was enough to shake my nervous system up pretty significantly. Five funerals is too many. The first was my nan: she was the family matriarch. The oldest person in the family, so there was a level of acceptance among the sadness

3 days ago
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From After the Hunt to the Last Dinner Party: your complete entertainment guide to the week ahead

After the HuntOut nowJulia Roberts stars in the latest from Challengers director Luca Guadagnino: a cancel-culture thriller set in the aftermath of an accusation of sexual assault on a college campus. She plays a philosophy professor at Yale, whose colleague Hank (Andrew Garfield) claims he is innocent of the charges against him.FrankensteinOut nowYears in the making, decades in the dreaming, Guillermo del Toro’s splendidly visceral take on one of literature’s true greats, starring Oscar Isaac as the eponymous scientist and an unrecognisable Jacob Elordi, asthe Creature, is long and messy and brilliant. It deserves to be seen on the big screen (though a Netflix release is following hot on the heels of this cinema release if you do miss it).SunlightOut nowComedian Nina Conti makes her directing debut with a deliciously dark road trip comedy that isn’t for the faint of heart

3 days ago
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The Guide #213: Should we mourn the demise of TV channels?

For seasoned tea-leaf readers of the future of TV in the UK, two stories will have stood out this week, swirling around at the bottom of their cups. There was the news that MTV is shutting down its music channels – sad for those of us who misspent their youth watching them, though hardly surprising either, given MTV’s decades-long shift away from music and towards rolling repeats of Teen Mom and shows about tattooists. And there was a media piece in the Guardian about the demise of British TV’s once-gold plated 9pm slot, which for the first time last month failed to achieve a rating of 1m or more among any of the major broadcasters.That second story was a little surprising. Overnight viewing figures are in constant decline in the streaming age, but even by those standards, not one solitary rating over 1m is eye-catching

3 days ago
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Jimmy Kimmel on the Republicans: ‘So much greed and hypocrisy and duplicity’

Late-night hosts spoke about Donald Trump’s attempts to transform the White House and how he was “cashing in bigly” on being president.On Jimmy Kimmel Live! the host spoke about Trump’s “goon squad” indicting his former national security adviser John Bolton while the president was still “brazenly lying about the economy”.This week Trump also met with Vladimir Putin, something he bragged about on social media before claiming that he is the only president to have ended a war. “All the other wars ended mysteriously by themselves,” Kimmel said.Trump also “still has his eye on the ballroom” hosting an event for investors willing to help fund a renovation

3 days ago
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Laurence Fox’s libel claim over racism accusations to go to retrial

Laurence Fox’s libel claim after he was called a racist on social media will go to a retrial, the court of appeal has ruled.The former actor was successfully sued by Simon Blake, who is now the chief executive of Stonewall, and the drag artist Crystal over a row on the social media platform Twitter, now called X.Fox, 47, called Blake and the former RuPaul’s Drag Race contestant, whose real name is Colin Seymour, “paedophiles” in an exchange about a decision by Sainsbury’s to mark Black History Month in October 2020.Fox called for a boycott of the supermarket and was called “a racist” by the men, as well as by the broadcaster Nicola Thorp, before he responded with the “paedophile” tweets which led to the initial libel claims.In two judgments in 2024, Mrs Justice Collins Rice ruled in favour of Blake and Seymour, and said Fox should pay them £90,000 each in damages

3 days ago
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Blue plaque to be unveiled at home of Thomas the Tank Engine creator

Eighty years since the first of a beloved fleet of trains was introduced to the world, a national blue plaque is being unveiled at the redbrick house in Gloucestershire where the Rev W Awdry worked on his railway stories.The addition of the new Historic England plaque to Wilbert Awdry’s old address in Stroud is expected to prompt fans of Thomas the Tank Engine and his fellow locomotives to make a pilgrimage to the street to pay their respects.Awdry’s daughter, Veronica Chambers, said the family was delighted: “It’s an enormous privilege and an honour. Father would have been very surprised.”The unveiling ceremony at Awdry’s former home, named Sodor after the fictional island his anthropomorphic engines inhabited, also forms part of this year’s Railway 200 celebrations

4 days ago
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Amazon says Web Services are recovering after outage hits millions of users – business live

about 3 hours ago
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Labour’s clean energy plan needs a revamp: get real on costs and ignore the artificial deadline | Nils Pratley

about 6 hours ago
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Amazon Web Services outage shows internet users ‘at mercy’ of too few providers, experts say

about 7 hours ago
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‘Every kind of creative discipline is in danger’: Lincoln Lawyer author on the dangers of AI

about 9 hours ago
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Outsiders steal headlines at Ascot and the shocks are coming more often

about 7 hours ago
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Red Bull fined £43,000 after team member tries to tamper with Lando Norris grid tape

about 7 hours ago