Irish agri firm Aurivo buys UK sports nutrition player

12-Mar-2015 - Last updated on 19-Jun-2024 at 09:57 GMT

Irish agri-business moves in on protein shake firm

The Irish agri-business Aurivo Co-operative Society has acquired London-based sports nutrition company My Goodness Ltd in an attempt to gain access to the protein drinks market.

My Goodness, the company behind For Goodness Shakes and energy and hydration brand Nectar, was bought for an undisclosed sum. Aurivo said the buy was driven by its interest in the sports nutrition, protein drinks and snacks market in the UK and Ireland.

Commenting on the development, Aurivo chairman Tom Cunniffe said: “My Goodness Ltd. is a fast developing nutrition business that is set for significant growth in the UK, Ireland and further afield in international markets.”

Aurivo chief executive, Aaron Forde, added: “My Goodness has exciting new product development plans for an expanding audience base, and Aurivo looks [sic] to leverage the market opportunity. The acquisition enables Aurivo to develop a leading position in the sports nutrition and protein markets.”

For Goodness Shakes was founded in 2003 by competitive sportsmen Stuart Jeffreys and Jeremy Martin, who will continue to manage the firm along with their existing team after the acquisition is completed.

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The company’s dairy-based protein brands are already available in supermarkets like Tescos, Morrisons and Sainsburys and specialist stores in the UK. Its recovery protein drinks were trialled by athletes in the Beijing Olympics, Aurivo said.

Jeffreys has said that he co-founded the company because of his own disappointment in the quality and taste of recovery shakes at the time.

Discussing such an occasion after a cycling race he said: “Even after nearly 200 miles on the bike I couldn’t drink it, it just tasted so terrible. I was so hungry but I just couldn’t finish the product. I wanted to make some products that were different to that.”

Meanwhile, Aurivo's history dates back to Irish farming co-operatives in the late 19^th century, although its currently form came about as part of a relaunch in 2013. This was part of a continuing consolidation process which saw the co-op move from North Connacht Farmers’ Co-operative Society (NCF) in 1972 to Connacht Gold after a merge in 2000 and finally Aurivo in 2013 after consultation with around 1,700 stakeholders.

This mantle covers its consumer foods, dairy ingredients, agribusiness mill, agribusiness stores and livestock market divisions.