Sweden-based better-for-you food group Midsona has bought the Gainomax sports nutrition brand from local dairy cooperative Norrmejerier.
It has paid SEK60m (US$6.4m) for the brand, which it will take over from 1 September.
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Gainomax, which had sales of approximately SEK80m in 2019, is one of Sweden’s best-known sports nutrition brands with products for exercise recovery and functional snacks such as milk-based drinks and protein bars.
The brand is currently sold primarily in Sweden and Finland, but the rights cover all markets. The production of milk-based sports drinks will continue to be handled by Norrmejerier.
Peter Åsberg, CEO of Midsona, said: “Gainomax’s brand and assortment complement our already existing portfolio in sports nutrition in Sweden and give us a nice platform to grow from in the other Nordic countries as well.”
Against a backdrop of people seeking out health options during the Covid-19 period, Midsona reported an increase in sales by as much as 40% in March in categories such as dry goods, breakfast products and maize cakes.
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By GlobalData
