Atlantic Group has sold its sports and functional nutrition business Genuport from Germany, this includes brands such as Multipower, Champ and Multaben, which is just a continuation of selling its non-strategic operations, reported Atlantic on Tuesday, reports Agrobiz on April 2, 2019.
Genuport is a long-time partner of Atlantic in the distribution of sports and active nutrition products. The divested business operations accounted for 133.7 million in revenue in 2018, accounting for 2.5 per cent of the total income of Atlantic Group, the statement said.
The conclusion of the sales agreement is a continuation of the corporate strategy of disinvestment of non-strategic business operations. The drive has already included the sale of production facilities for sports and active nutrition to Aminolabs from Belgium, Atlantic announced. The actual price of the transaction has not been disclosed.
Atlantic Group’s Vice President for Corporate Activities Neven Vranković points out that Genuport, as the former distributor, is well aware of the market and potentials of the brands that are part of the segment of sports and active nutrition, making it a logical choice for a partner in this process.
"We believe that Genuport will be focused and committed to continuing to develop brands with long-standing tradition. We expect it will use the knowledge in distribution it has to be even better positioned in this fast-growing market segment," Vranković said.
As explained in the statement, Multipower has been a well-known brand for over 40 years and is one of the European leaders in the sports and active diet market, known for its high-quality protein products and dietary supplements for athletes and active users. It was part of the Atlantic Group system since 2005, together with the accompanying brands Champ and Multaben, well-known to the German and European consumers.
Genuport is one of the leading German distribution companies with a long reference list of partner companies such as Wander, Mondelez, Snyder's Lance, Weetabix and many others, according to the statement.
More news on the Atlantic Group can be found in the Business section.
Translated from Agrobiz.hr.
