Prenetics Acquires Europa Sports Partners for Expansion
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Prenetics Announces Acquisition of Europa Sports Partners
Strategic Expansion into Consumer Health and Wellness
Europa is one of the largest sports nutrition distributors with a network of 10,000+ gyms across the United States.
This acquisition supports Prenetics’ new health and wellness brand IM8 with David Beckham as its co-founding partner.
Projected revenue of $100 million+ in the consumer segment for FY2025.
Prenetics Global Limited (NASDAQ: PRE) ("Prenetics" or the "Company"), a leading health sciences company, is pleased to announce the acquisition of Europa Sports Partners ("Europa") and subsidiary, Hubmatrix, a global ecommerce and retail logistics provider. This strategic acquisition marks a significant milestone in Prenetics' expansion into the consumer health and wellness industry and reinforces Prenetics’ recent entry into this sector with IM8, a new health and wellness brand focused on cutting-edge consumer health products. The acquisition has been funded with cash available on the Company’s balance sheet.
Additionally, the Europa business establishes the U.S. headquarters of Prenetics and solidifies its business commitment to the market. The acquisition will drive Prenetics’ distribution network and streamline the predominantly brick-and-mortar distribution business model to include a direct digital distribution platform.
Danny Yeung, CEO of Prenetics, said: “Prenetics’ acquisition of Europa and Hubmatrix is a strategic move that establishes our foothold in the market. Coupled with our partnership with David Beckham and the upcoming launch of IM8, we are positioned to become a leader in the health and wellness industry. This move demonstrates our commitment to significant growth and innovation in the rapidly expanding consumer market, with expectations to surpass $100 million in consumer segment revenue by the end of 2025.”
Justin Weeks, CEO of Europa Sports Partners, added: “Joining forces with Prenetics opens up new opportunities for Europa to leverage our advanced technologies and digital strategies. Together, we can deliver enhanced value to our brand partners and customers, driving forward the future of sports nutrition and wellness.”
Operating for over three decades, Europa Sports Partners is one of the largest full-service sports nutrition distribution companies in the US. Europa specializes in distributing nutritional and sports supplements, sports drinks, and accessories to thousands of gyms, studios, and fitness centers across the United States. The company distributes over 120 brands, including well-known names like Ryse, Bucked Up, Labrada, and many more. Europa also operates three warehouses with more than 200,000 square feet of warehousing space. Hubmatrix, a subsidiary of Europa, is a third-party logistics (3PL) provider of health and wellness brands.
About Prenetics
Prenetics (NASDAQ:PRE), a leading health sciences company, is dedicated to advancing consumer and clinical health. Our consumer initiative is led by IM8, a new health and wellness brand. Our clinical division is led by Insighta, our joint venture focused on multi-cancer early detection technologies. Each of Prenetics’ units synergistically enhances our global impact on health, embodying our commitment to enhancing life through science.
About Europa Sports Partners
Europa Sports Partners is one of the largest full-service sports distribution companies in the USA, providing a wide range of sports nutrition products to 10,000+ fitness facilities nationwide. Operating for over three decades, Europa has built a strong reputation for quality and service in the industry.
About Hubmatrix
Hubmatrix is a leading third-party logistics (3PL) provider specializing in health and wellness brands. They offer comprehensive logistics solutions that enhance business operations, customer engagement, and digital marketing strategies, supporting businesses in optimizing their digital footprint and expanding their online presence.
Frequently Asked Questions
1. What is the purpose of Prenetics acquiring Europa Sports Partners?
The acquisition aims to strengthen Prenetics' presence in the consumer health and wellness industry and enhance its distribution network.
2. Who is David Beckham's role in Prenetics?
David Beckham is a co-founding partner of Prenetics' new health and wellness brand, IM8.
3. What is the projected revenue from the consumer segment for Prenetics?
Prenetics projects to surpass $100 million in consumer segment revenue by the end of 2025.
4. How does Europa contribute to Prenetics' business strategy?
Europa establishes the U.S. headquarters and enhances Prenetics' distribution capabilities through digital channels.
5. What industry does Europa Sports Partners operate in?
Europa is a major player in the sports nutrition distribution industry, working with gyms and fitness facilities across the U.S.
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