Mighty Drinks: Leeds dairy-free brand rescued in deal with overseas buyer
The future of Leeds-based dairy-free drinks firm Mighty Drinks has been secured after a recent sale.
A buyer has been found for Mighty Drinks, a dairy-free alternative milk brand that entered administration earlier this summer.
Based at Castleton Mill off Armley Road, Mighty Drinks was one of the UK’s fastest-growing daily alternative brands. Its products were sold at supermarkets and health stores across the UK.
The company, registered as Watkins Drinks Ltd, has faced “trading headwinds” in recent years - like much of the plant-based food industry - including rising costs and “fragile customer confidence.” As a result, in June, James Clark and Howard Smith of Interpath were appointed joint administrators.
After mothballing the business and retaining a small number of staff to support an asset realisation strategy, the administrators have secured the sale of the Mighty Drinks intellectual property to The Mighty Kitchen - an unrelated business supplying plant-based products to the hospitality sector.
The Mighty Kitchen is a Cyprus-based firm launched in 2019. It has operations in Cyprus, Greece, the UAE, and the UK.
Mr Clark said: “We’re pleased to have secured a sale of the Mighty Drinks brand to The Mighty Kitchen, ensuring the continuation of a well-regarded name in the plant-based sector.
“The transaction provides a platform for the brand’s future and the opportunity for the purchaser to exploit the brand overseas.
“We wish the team at The Mighty Kitchen every success as they take the brand forward and pursue their mission to integrate plant-based products into food culture.”
The Mighty Kitchen CEO, George Vou, added: “This is exciting for us. We’re proud to be able to pick up such a well-crafted brand and to make good use of the work that the team at Mighty has already done.”