CNP Set to Go From Strength to Strength After Being Acquired by The Protein Partners
November, 2016 - Birmingham, England
Springboard Corporate Finance is delighted to announce that it has advised First Milk, a Dairy Co-Operative on the sale of its premium sports nutrition business CNP Professional (“CNP”) to The Protein Partners Ltd.
Founded in 1998 by former British bodybuilding champion, Kerry Kayes and based in Hyde, Manchester, CNP has grown to become one of the pre-eminent brands in premium sports nutrition. Through its in-house manufacturing facility, CNP has serviced the sports nutrition market with an elite product range, recognised and supported by professional athletes including British Cycling Team GB, amateur/sports enthusiasts and health conscious consumers.
Mike Gallacher, chief executive of First Milk said “We engaged with Springboard to help us sell CNP following a strategic review by the Board last year. This transaction secures the future of CNP, its employees and its state of the art manufacturing facility. We are confident that the CNP brand will continue to develop and flourish under the stewardship of The Protein Partners.”
Partner Ben Bolt and Executive Matthew Guest of Springboard advised First Milk, on the transaction. Ben commented “Under First Milk’s stewardship CNP has maintained its market position as a pre-eminent sports nutrition brand with a reputation for innovation, high quality products and an excellent and loyal customer base. We secured a range of competitive offers and are delighted to have negotiated and delivered the sale to The Protein Partners, which we believe represents an excellent deal for both parties”
Commenting on the deal, Paul Miley MD of CNP said, “My team and I are very pleased to have completed this transaction and look forward to the next phase of development for CNP. Significant opportunity now exists to build on CNP’s brand heritage and reputation within the expanding sports nutrition market.”
