Who owns Slimfast?
SlimFast is an American company headquartered in Palm Beach Gardens, Florida that markets an eponymous brand of shakes, bars, snacks, packaged meals, and other dietary supplement foods sold in the U.S., Canada, France, Germany, Iceland, Ireland, Latin America, and the U.K. SlimFast promotes diets and weight loss plans featuring its food products. Who owns Slimfast?…
SlimFast is an American company headquartered in Palm Beach Gardens, Florida that markets an eponymous brand of shakes, bars, snacks, packaged meals, and other dietary supplement foods sold in the U.S., Canada, France, Germany, Iceland, Ireland, Latin America, and the U.K. SlimFast promotes diets and weight loss plans featuring its food products.
Who owns Slimfast?
SlimFast was started in 1977 as a product line of the Thompson Medical Company, founded in the 1940s by S. Daniel Abraham. Thompson Medical also sold the controversial weight loss dietary supplement Dexatrim. In 1987, Abraham took the brand private, and it was acquired by Unilever in 2000.
Slim-Fast Nutritional Foods International entered the mid-1990s in a position of dominance in the weight management and health-food industry. With a controlling share of the market, Slim-Fast was beginning to receive accolades for its performance.
Slim-Fast now held a 46 percent share of the diet liquid/powder segment of the weight loss market, selling over $611 million of its products in 1999. With the diet/weight loss market slated to grow by at least 10 percent per year, Slim-Fast entered the 2000s on solid ground.
In April 2000, Unilever announced that it would buy Slim-Fast in a $2.3 billion deal. Unilever also bought ice cream maker Ben & Jerry’s at the same time, thereby tapping into two groups of consumers–those that craved sweets and those searching for weight loss products.
