Glanbia strengthens performance nutrition offering with €181 million double deal

By Nathan Gray contact

- Last updated on GMT

Glanbia strengthens performance nutrition offering with €181 million double deal
Dairy and nutritional ingredients firm Glanbia has confirmed two strategic acquisitions that will enhance its performance nutrition division by bringing a greater focus on plant-based foods and direct-to-consumer sales.

The Irish company sealed the deal for Dutch direct-to-consumer online business ‘Body & Fit’, in addition to US-based organic plant nutrition specialists Grass Advantage LLC (Amazing Grass) for a combined €181 million. The acquisitions are expected to bring in around €100 million in additional revenues annually, said Glanbia.

Siobhan Talbot, group managing director at Glanbia commented that both businesses have a strong strategic fit with the Glanbia Performance Nutrition (GPN) division and will extend its reach to new consumers and channels – including ‘greens’ and ‘superfoods’ categories.

“Both businesses have a track record of strong growth and we will continue to invest in their future development,”​ she added – noting that both of the existing management teams will remain with the respective businesses and integration will largely be related to installing Glanbia supporting systems. 

Amazing Grass has a brand portfolio based on organic, natural, GMO free products in North America, which Glanbia said is complimentary to its current portfolio and positioning in the plan-based nutrition market.

Meanwhile, the acquisition of Netherlands-based online consumer sales business ‘Body & Fit’ will provide Glanbia with a new consumer base in Germany and the BeNeLux region within Europe. 

“This acquisition enables GPN to have a direct presence in the rapidly growing DTC channel,”​ said Glanbia in a press release – adding that the firm will invest in Body & Fit to expand its reach across Europe.

Shares in Glanbia were up around 1.6% after the announcement this morning, which noted that both acquisitions will be marginally earnings accretive in 2017.

The transaction for Body & Fit is subject to Dutch competition clearance and is expected to close in the first half of 2017.

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