Watkins Drinks Limited, which operates as Mighty Drinks, appointed James Clark and Howard Smith from Interpath as administrators in June due to financial challenges. Recently, these administrators secured the sale of the brand’s intellectual property and certain stock to alternative protein company, The Mighty Kitchen.
Mighty Drinks specializes in dairy alternative beverages, particularly pea protein and oat milks. Their products were widely available in supermarkets and health stores across the nation, and they also offered a subscription-based service.
Nonetheless, the brand faced significant trading headwinds that have impacted many businesses in the plant-based food sector, including escalating costs and diminishing consumer confidence. As a result, Mighty Drinks struggled to scale operations and achieve profitability.
The Mighty Kitchen, established in 2019 and operating in Cyprus, Greece, the UAE, and the UK, plans to retain three of Mighty Drinks’ remaining staff temporarily to facilitate a smooth transition.
Meanwhile, the joint administrators are focused on liquidating the remaining assets, efficiently concluding the administration process.
Clark, the managing director at Interpath, remarked: “We’re pleased to have secured a sale of the Mighty Drinks brand to The Mighty Kitchen, ensuring the continuation of a well-regarded name in the plant-based sector.”
“The transaction provides a platform for the brand’s future and the opportunity for the purchaser to exploit the brand overseas. We wish the team at The Mighty Kitchen every success as they take the brand forward and pursue their mission to integrate plant-based products into food culture.”
The Mighty Kitchen’s CEO, George Vou, expressed enthusiasm: “This is exciting for us. We’re proud to be able to pick up such a well-crafted brand and to make good use of the work that the team at Mighty has already done.”
