Yorkshire-based Mighty Drinks is now seeking a buyer after appointing administrators due to mounting financial pressures. The fast-growing plant-based beverage company, founded in 2018, was created by two brothers with the aim of revolutionising the alternative dairy market. Their range includes barista milk, dairy-free kids’ milk, oat milk powders in various flavours, and high-protein unsweetened pea milk, all of which are sold through major retailers like Sainsbury’s, Holland & Barrett, and Ocado.
Despite growing its presence in the market, the company has struggled with rising costs and declining consumer confidence, impacting its ability to scale and reach profitability. The firm, which employed around 19 staff members as of 2023, had also expanded into Germany through its subsidiary, Mighty Drinks GmbH, which began trading in 2022.
Following a thorough search for investment, the company’s directors determined a solvent outcome was no longer feasible. As a result, administrators James Clark and Howard Smith from Interpath were appointed on June 17. The administrators are now evaluating the potential for a sale of the business, including the Mighty brand and intellectual property, and are inviting interested parties to come forward.
