BOSSES at a sports nutrition firm say their business is set to double in size after announcing a £32million takeover deal.

Science In Sport is looking to buy out Hull-based Phd, which makes Smart bars, through a cash-and-share-issue offer.

SiS supplies Blackburn Rovers, British Cycling and Team Sky and has Sir Chris Hoy and Adam Peaty as brand ambassadors.

The deal should cement the reputation of the firm, which started out in Altham and has its main manufacturing plant in Nelson, as a market leader.

Stephen Moon, SiS chief executive, said: "The acquisition is highly complementary, doubles the size of our business and accelerates our ambition to become a global leader in premium performance nutrition.

"It is a compelling combination that will deliver a wider product offering, including premium protein, provide broader consumer reach and greater international presence, and dovetails our respective strengths in retail and e-commerce channels.

"Operating in a rapidly developing market, we see this transaction as an important step towards winning on the global stage. With the clear synergies and growth prospects of the combined group we anticipate delivering strong returns."

Financiers have confirmed that the deal comprises of a £28.5million cash downpayment and the issue of £3.5million in new shares.

SiS, which was originally founded in 1992 by Tim Lawson and sold to Provexis in 2011 for £8million.

Bosses at Science in Support say they had a long-standing supply contract with Rovers before they made their partnership official last November.