Acquisition of protein manufacturing assets

Supreme plc (AIM: SUP), a leading manufacturer, supplier and brand owner of fast-moving consumer products is delighted to announce the acquisition out of administration of the trade and assets of FoodIQ UK Holdings Limited ("Food IQ"), the protein manufacturer, for consideration of £175,000.

Principally, the acquisition provides Supreme with access to a purpose-built, state-of-the-art, accredited, automated contract manufacturing facility that opened only 18 months ago and cost almost £1.2m to build. Supreme plans to keep the facility operational from its site near London and expects that the facility will increase Supreme's wellness manufacturing capacity by around 40%.

Sandy Chadha, Chief Executive Officer of Supreme, commented:

"We are delighted to have completed this acquisition, which provides our fast-growing Sports Nutrition & Wellness division with the manufacturing capacity required to meet growing demand. We have used Food IQ in the past to manage capacity requirements in our Sports Nutrition & Wellness division so are familiar with their capability."