Finland-based sports nutrition company Elite Fitness has a new majority shareholder.
Swedish sports equipment specialist WeSport has struck a deal to buy 65% of Elite Fitness for an undisclosed sum.
In a statement announcing the deal, WeSport said Elite Fitness’s founders will stay involved as “significant long-term shareholders”.
Established more than 25 years ago, Elite Fitness has built its position in Finland through its main brand, SportLife.
According to WeSports, SportLife “holds the number one position” in powdered sports-nutrition products in Finland's grocery retail market.
Elite Fitness' product range includes protein powders, supplements, functional drinks and protein bars are sold
The company mainly operates in the wholesale market, supplying Finnish retail chains including S-Group, Kesko and Tokmanni.
In the statement, Ted Sporre, WeSports Group's CEO, said Elite Fitness is “exactly the type of company we seek to partner with – a market leader with strong own brands, attractive profitability, and significant growth potential".
He added: "Sports nutrition is one of the fastest-growing categories within active lifestyle, and through Elite Fitness we establish a platform for long-term expansion in the Nordics."
Just Food has approached Sporre for further comment.
For the 2025/26 financial year, Elite Fitness posted net sales of about €8.2m ($9.3m), with WeSports saying the firm's profitability was “above” its financial targets.
Elite Fitness operates an asset-light model, with manufacturing and logistics outsourced.
In the statement, WeSports added Elite Fitness would gain the benefit of its new shareholder's digital platforms and logistics.
Tom Weckman, Elite Fitness' CEO, said: “Becoming part of WeSports Group gives us a strong strategic partner with extensive experience in developing specialist companies across the Nordics.
“Together, we see exciting opportunities to strengthen our digital presence, reach new customers, and continue developing both SportLife and future product concepts.”
