Glanbia strengthens performance nutrition offering with €181 million double deal

By Nathan Gray

- Last updated on GMT

Glanbia strengthens performance nutrition offering with €181 million double deal

Related tags Glanbia performance nutrition Consumer Benelux

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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