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

Typhoo tea owner Supreme acquires business from Irish nutrition and food firm Glanbia for 20m

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.