Founded in 2012, Protein Works innovates, manufactures and sells a wide range of protein-based nutrition products focused on health and wellbeing, including protein shakes, meal shakes, wellness supplements and protein snacks. The business is headquartered in Liverpool and operates a fully integrated model, manufacturing products at its recently opened facility in Speke and distributing through its UK and European direct-to-consumer platforms. Protein Works generates annual revenues of approximately £55 million and has sold more than 500 million shakes to date.
The sale to Lactalis marks a successful exit for YFM Equity Partners who first backed the business through its Buyout Fund in 2019. DWF has a long-standing relationship with Protein Works, having acted for the business on the original investment by YFM when the business was generating £13m in revenue and now acting for YFM and the other shareholders on the sale to Lactalis.
The DWF team was led by corporate partner Jonathan Robinson and included Will Munday, Katy Butler, Alec Mackenzie and Jim Murphy from the corporate team, alongside Caroline Colliston and Zita Dempsey from the tax team.
Jonathan Robinson, corporate partner at DWF, said: “We are delighted to have supported the shareholders of Protein Works on this significant transaction. The acquisition is a testament to the strength of the Protein Works brand, its impressive growth journey and the quality of the team that has built the business into a market-leading lifestyle nutrition brand.
“This deal highlights the continued appetite for high-growth consumer and wellness brands, and we wish the Protein Works and Lactalis teams every success for the future.”
Laura Keir, CEO of Protein Works, added: “Our acquisition by Lactalis is a very exciting new chapter in the Protein Works story. There are natural synergies between the two businesses, and a deep care for quality, customers and our teams. The move allows us to accelerate the growth of the Protein Works brand and reach new customers, whilst providing new expertise to the group as a whole.”
