Business
Acquisition of Clearly Drinks Limited for £15m
Acquisition of Clearly Drinks Limited for £15m.
About this update from Supreme Plc
[{"type":"text","content":"\n\n24 June 2024\n \nSupreme plc\n(\"Supreme\" or the \"Company\" or the \"Group\")\n \nAcquisition of Clearly Drinks Limited for £15 million\n \n- Strategic acquisition of leading canned and bottled soft drinks brand, adding diversity to our earnings\n- Transaction will be immediately earnings enhancing\n- Generates cross and upsell sales opportunities\n \nSupreme (AIM: SUP), a leading manufacturer, supplier, and brand owner of fast-moving consumer goods, announces the acquisition of Acorn Topco Limited, the parent company of Clearly Drinks Limited (\"Clearly Drinks\" or \"Clearly\" or the \"Business\"), a long-established and well-known UK manufacturer of specialised canned and bottled-at-source spring water and soft drinks, for a total net cash consideration of £15 million (the \"Acquisition\").\n \nEstablished in 1885, Clearly Drinks is a brand owner and manufacturer of soft drinks and bottled-at-source spring water in cans, glass and polyethylene terephthalate (\"PET\") (plastic) bottles, and currently services c.70 customers nationwide including major UK retailers Waitrose, Aldi, Tesco, Sainsbury's, and Farm Foods. Alongside manufacturing its own brands and providing private and own label beverages for supermarkets and discounters, Clearly Drinks is a contract manufacturer for a number of the world's largest soft drinks companies.\n \nClearly Drinks is the owner of Perfectly Clear, Northumbria Spring and Revolution Waves, offering a diverse range of products across its beverage brands portfolio including spring water (still and sparkling), energy drinks, isotonic vitamin drinks, flavoured spring water, juices, coffee-based beverages, and mixers and tonics.\n \nThe Business employs around 100 members of staff and operates across a 150,000 sq. ft. freehold site which includes three onsite natural spring water boreholes capable of accessing up to 300 million litres of fresh spring water. The facility is fully automated, having received a multimillion-pound investment, and contains a new fully automated can line with the capacity to produce 350 million canned drinks per year. In addition to cans, Clearly Drinks has the manufacturing capabilities to package products in glass or PET bottles, further accomm...