Glanbia Nutrition powers ahead with Pro-Fibe acquisition
focus with the acquisition of UK-based Pro-Fibe Nutrition, a bar
and beverage innovator to be henceforth known as Glanbia
Nutritionals UK Ltd.
It has not revealed the value of the acquisition, but called it a "strategic move [that] builds Glanbia's position in the global performance nutrition sector".
The company formerly known as Pro-Fibe works in close partnership with customers on the development of new bars and beverages, including high protein, energy, low GI, high fibre and meal replacement products, from the concept right through to manufacturing.
Its 40,000 ft manufacturing facility is located in Middlesborough, UK.
The modus operandi of innovation through R&D is in keeping with that of the new parent company, and Pro-Fibe founder Matthew Richards, now technical director of Glanbia Nutritionals UK, said the acquisiton was a natural step.
"Now we can further develop our capabilities and services, and offer customers the added value of Glanbia Nutritionals' expertise in the nutritional ingredients market."
This latest acquisition is the second Glanbia Nutritionals made recently with a view towards building its ability to deliver science-based nutritional solutions.
In July 2004 it acquired German-based Kortus Food Ingredients Services (KFIS), which specialises in R&D and production of customised nutrient systems for the food, supplements and diet products.
The full year financial results for the Glanbia group were disappointing, with operating profit pre exceptional down 7 per cent to € 80.6 million and the operating margin pre exceptional declined 50 basis points to 4.4 per cent, even though group revenue for the twelve months ended 31 December 2005 increased by 4 per cent to € 1.83 billion.
These were put down to restructuring of the EU dairy sector and upheaval in the Irish market. However Nutritionals was one of the bright spots, and even in the first four months since the acquisition KFIS was said to have exceeded expectations.
