FDBusiness.com

Provexis, the life-science business that discovers, develops and licenses scientifically-proven functional food, medical food and dietary supplement technologies, has agreed to purchase SiS (Science in Sport), a revenue generating, profitable company which manufactures and sells sports nutrition products.

SiS is based in the North West of England and employs 51 staff. The acquisition of SiS is for total a consideration of £8.0 million. Provexis plans to use its management and technical capabilities to support growth in the SiS business in the areas of product development, scientific and regulatory expertise and expertise in the sports nutrition sector.

SiS produces sports nutrition products for consumers and professional and elite athletes, including Olympic athletes, professional cyclists and triathletes. Its popular products include: PSP 22 carbohydrate powders, Rego recovery powders and the Go range of gels.

The global sports drink market had an estimated $24.5b of sales in 2010. In the same period in the UK, sales of sports drinks were estimated to be £220m, sports foods £30m and sports supplements £70m. All three sectors in the UK have shown growth since 2006.