Wellbeing firm muscles in on sports nutrition business
A Leeds-based wellbeing firm has snapped up a sports nutrition business which names professional sports clubs as clients to further expand its services.
Hero Wellbeing , which formed last year, has bought Manchester-based Colour-Fit, a professional sports nutrition business which works with more than 50 national and international teams from the world of professional sport including five national governing bodies, eight Premier League football teams, professional rugby teams, cricket teams, golfers and speedway stars.
Colour-Fit will continue to operate as a stand alone business within Hero and has been acquired due to the complementary services it will offer Hero clients.
Founder and CEO of hero Joe Gaunt will become CEO of Colour-Fit. Gaunt said: “We are on a mission to help people at every stage of life to navigate their personal wellness journey and Colour-Fit is a perfect business to help us realise this. Colour-Fit offers an easy to understand and implement nutritional system, which is delivering outstanding results to its client base of professional sportspeople.
“We will be taking this model and applying it to our clients and users of the hero platform as well as working with the Colour-Fit team to grow and further develop the programme.”
Hero plans to develop the Colour-Fit offer and use of technology to increase awareness and access to its service.
Colour-Fit’s founder Dr Tom Little remains as MD of Colour-Fit and also becomes Head of Performance & Nutrition across both Colour-Fit and hero.
Dr Tom Little added: “I am delighted that Colour-Fit has become part of hero. This acquisition will enable us to achieve our innovation ambitions and scale the business to the next level to bring our revolutionary approach to nutrition and training to a wider audience. I am really looking forward to working with the hero team and its clients, and demonstrating that the Colour-Fit system can bring outstanding results not only for elite sportsmen and women, but for everyone.”
Blacks Solicitors was appointed to oversee the deal after working closely with hero on previous investments.
Pete Konieczko-Hansom, an Associate in the Corporate & Commercial team at Blacks, said: “We thoroughly enjoyed working closely with hero and applying our extensive experience in the health, fitness and wellbeing sector to support a fellow local business.
“The licensing of the intellectual property in Colour-Fit was particularly significant in this deal. Careful drafting was required to ensure the collaborative nature of the transaction was reflected and this will enable the parties to continue to expand and grow in the future.”