The ingredients giant announced it had agreed to buy Isopure for $153M (£94.1M) last month and said it expected to complete the acquisition in the fourth quarter of this year.
Glanbia announced it had achieved its objective today (October 15).
Isopure supplies premium branded powdered and ready-to-drink sports nutrition products through speciality, internet and direct distribution channels. The company generated net revenues of $74.6M (£45.9M) in the year to the end of July.
Profits from 2015
Its offering complemented Glanbia’s Global Performance Nutrition business, said Glanbia, which predicted that the deal would deliver add to its profits from 2015. The purchase had been funded from its existing debt facilities, it said.
“We are delighted to announce the acquisition of Isopure,” said Glanbia group md Siobhan Talbot. “The transaction, which is firmly aligned with the group’s strategy, supports our group ambitions and will be value-enhancing for our shareholders.”