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‘Functional food’ giant Provexis has reportedly bought out Science in Sport for around £8 million.
Stephen Moon, chief executive officer of Provexis plc, commented: "We are delighted to announce that the company has entered into a conditional agreement to acquire SiS (Science in Sport) Limited which is expected to complete on 24 June 2011."
Science in Sport’s turnover for the year ended December 31st 2010 is reported to be £4.6 million, a steady growth on the prior year’s £4.3 million..
Moon continued: "Science in Sport is a highly regarded and growing company in the substantial sector of sports nutrition. I believe there are strong synergies between the two businesses, with the existing scientific, regulatory and product development capability of Provexis available to further enhance the reputation of Science in Sport with elite and professional athletes. The revenue generating, profitable nature of the new business will help us to achieve our strategic goals, by adding a near term revenue stream to our longer-term pipeline development bias."
Science in Sport is distributed via Madison, Moore Large and Harris Active.
Investigate.co.uk has more detailed financials here.
