The administrators of Watkins Drinks Limited have secured the sale of the Yorkshire-based Mighty Drinks brand to alternative protein brand The Mighty Kitchen.
James Clark and Howard Smith from Interpath were appointed joint administrators to Watkins Drinks Limited, trading as Mighty Drinks, on 17 June. Mighty Drinks was one of the UK’s fastest growing dairy alternative brands, with its specialist range of pea protein and oat milks. Its products were sold nationwide from supermarkets and health stores, and it had its own subscription-based service.
After facing trading headwinds experienced by many companies across the plant-based food sector, including rising costs and fragile consumer confidence, the business had been unable to achieve scale and profitability, which led to the administration. The administrators mothballed the business following their appointment and retained a small number of staff to assist with an asset realisation strategy.
After a marketing process, the joint administrators have secured the sale of the Mighty Drinks IP, as well as some stock, to The Mighty Kitchen – an unrelated business that supplies plant-based protein products to the hospitality industry.
The Mighty Kitchen was launched in 2019 and has operations in Cyprus, Greece, UAE and the UK. The Mighty Drinks brand’s remaining three members of staff have been retained by the administrators for a short period of time to assist with the transfer of the brand to the acquirer.
James Clark, managing director at Interpath and joint administrator of Watkins Drinks Limited, 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, said: “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.”
The joint administrators are now focused on selling the remaining assets and winding up the administration.
