Watkins Drinks Limited, trading as Mighty Drinks, appointed James Clark and Howard Smith from Interpath as administrators in June in response to financial difficulties, and the pair have now secured the sale of the brand’s intellectual property, as well as some stock, to alternative protein brand The Mighty Kitchen.
Mighty Drinks is a dairy alternative drinks brand specialising in pea protein and oat milks. Its products were sold nationwide from supermarkets and health stores, and it had its own subscription-based service.
However, after facing trading headwinds experienced by many companies across the plant-based food sector, including rising costs and fragile consumer confidence, the business was unable to achieve scale and profitability.
Mighty Kitchen – which was launched in 2019 and has operations in Cyprus, Greece, UAE and the UK – will retain the remaining three members of staff employed by Might Drinks for a short period of time to assist with the transition.
The joint administrators are now focused on selling the remaining assets and winding up the administration.
Clark, who is the managing director at Interpath, commented: “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.”
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