Supreme, the Manchester-based group that owns brands such as SCI-MX and 88Vape, has acquired Acorn Topco Limited, the parent company of Clearly Drinks, a manufacturer of spring water-based drinks.
Clearly Drinks currently services around 70 customers nationwide, including major retailers, with brands such as Perfectly Clear, Northumbria Spring, and Revolution Waves. Alongside manufacturing its own brands and providing private label beverages for supermarkets and discounters, Clearly Drinks is a contract manufacturer for several of the world’s largest soft drinks companies.
Supreme expects the £15m acquisition to “be immediately earnings enhancing”. Clearly reported revenues of £22.4m and adjusted EBITDA of £3.0m in its last financial year.
Sandy Chadha, Chief Executive Officer of Supreme, commented: “We are delighted to be acquiring Clearly, a high-quality manufacturer and brand owner of soft drinks, which I believe delivers a significant component of our broader diversification strategy.
“Our enlarged business is not only gaining a strong additional pillar, which fully aligns with our Vaping, Lighting, Batteries and Sports Nutrition & Wellness categories, but also a significant opportunity to develop and capitalise on further cross and upsell opportunities which our trusted reputation across the UK retail space facilitates.
“We look forward to welcoming Clearly into the Supreme family and updating shareholders on our progress over the course of the current financial year.”
