Class Delta Limited
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Class Delta Limited - overview
Established
2012
Location
-, -, UK
Primary Industry
Food
About
Based in Liverpool, UK, Protein Works, founded in 2012 by Mark Coxhead, Karl Jacobie and Nick Smith. The company provides sports nutrition products and supplements, including protein powders, meal replacements, and wellness products. Protein Works, founded in 2012 and headquartered in Liverpool, UK, is a direct-to-consumer functional nutrition brand specializing in protein-based food and supplement products. The company received backing from YFM Equity Partners in 2019, supporting its expansion and infrastructure growth.
Most recently, in June 2026, the company was acquired by Lactalis, a global dairy group, to strengthen its active nutrition capabilities and international expansion. Protein Works designs and manufactures a wide range of nutrition products including protein shakes, meal replacements, high-protein snacks, and wellness supplements. The company operates a vertically integrated model, handling formulation, manufacturing, and distribution through its own facility and online channels. The company primarily generates revenue through direct-to-consumer online sales of nutrition products across the UK and international markets.
Additional revenue is supported by international expansion and digital sales channels, with strong reliance on e-commerce distribution. Following its acquisition by Lactalis, Protein Works is expected to accelerate global expansion by leveraging Lactalis’ supply chain, manufacturing scale, and international distribution networks. The integration aims to expand reach across Europe and other markets while strengthening product innovation and category presence in active nutrition.
Current Investors
YFM Equity Partners
Primary Industry
Food
Sub Industries
Health Foods & Nutritional Supplements, Retail
Website
www.theproteinworks.com
Verticals
E-commerce, Manufacturing
Company Stage
Mature
Total Amount Raised
Subscriber access only
Class Delta Limited - timeline of key events

Class Delta Limited - financials
| Fiscal Year Ended | Aug 31, 2015 | Aug 31, 2016 | Aug 31, 2017 | Aug 31, 2018 | Aug 31, 2019 | Aug 31, 2020 | Aug 31, 2021 | Aug 31, 2022 | Aug 31, 2023 | Aug 31, 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 6,203,355 | 10,308,062 | 10,887,000 | 11,712,000 | 12,463,983 | 17,599,396 | 25,611,658 | - | - | - |
| % Revenue Growth (YoY) | - | 66.2% | 5.6% | 7.6% | 6.4% | 41.2% | 45.5% | - | - | - |
| EBITDA (USD) | (27,498) | (1,158,516) | (1,224,000) | 138,000 | 1,049,822 | 1,546,279 | 2,080,423 | - | - | - |
| Operating Income (USD) | (108,543) | (1,349,810) | (1,519,000) | (78,000) | 830,846 | 1,308,693 | 1,816,619 | - | - | - |
| Operating Margin | (1.7%) | (13.1%) | (14.0%) | (0.7%) | 6.7% | 7.4% | 7.1% | - | - | - |
| % EBITDA Margin | (0.4%) | (11.2%) | (11.2%) | 1.2% | 8.4% | 8.8% | 8.1% | - | - | - |
| NET Income (USD) | (89,918) | (1,110,340) | (1,296,000) | (302,000) | 932,874 | 1,155,959 | 1,674,562 | - | - | - |
| % Net Margin | (1.4%) | (10.8%) | (11.9%) | (2.6%) | 7.5% | 6.6% | 6.5% | - | - | - |
Class Delta Limited - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Trade Sale | Completed | Class Delta Limited | - | ||||||||
| Secondary Buyout | Completed | Class Delta Limited | - | ||||||||
| Buyout | Completed | Class Delta Limited | - |
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Class Delta Limited - employee data


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