PROTEIN WORKS acquired by LACTALIS

Lactalis acquired Protein Works from private equity sponsor YFM Equity Partners on 1 June 2026. The transaction provided a complete liquidity exit for YFM Equity Partners, which had held a minority growth investment in the sports nutrition business since 2019. Protein Works generated annual revenue of £50–100M. At the time of the transaction, Protein Works employed 150 people across its headquarters and processing operations near Liverpool, having distributed hundreds of millions of portion servings to direct consumers across British and continental European markets. The purchase expanded Lactalis into digitally native sports nutrition and lifestyle wellness products, integrating direct-to-consumer online distribution infrastructure alongside its established ambient and chilled grocery manufacturing assets. Protein Works had developed custom software and online fulfillment mechanisms supporting international e-commerce orders, while maintaining internal control of powder blending, pouch filling, and recipe formulation in its private facility. YFM Equity Partners had supported investment in automation equipment, facility expansion, and digital acquisition channels across European territories throughout its multi-year ownership period. Houlihan Lokey served as exclusive financial advisor to Protein Works. The transaction reached closing following the execution of definitive share sale documentation between the corporate buyer and institutional shareholders.