Glanbia makes two acquisitions10 Feb 2017
Glanbia is investing approximately €181 million to acquire two companies, Amazing Grass in the United States and Body & Fit in the Netherlands, to enhance its performance nutrition division.
Glanbia is investing approximately €181 million to acquire two companies, Amazing Grass in the United States and Body & Fit in the Netherlands. Both businesses are said to have a strong strategic fit with Glanbia’s Performance Nutrition (GPN) division and will extend its reach to new consumers and channels.Grass Advantage has a portfolio of plant-based organic and non GMO brands in the plant based nutrition, “Greens” and “Super Food” categories, selling to lifestyle consumers in the natural, online, food, drug and mass channels in North America. The brand is said to be complementary to the current portfolio and to position GPN well in the plant based nutrition market.Body & Fit is a direct to consumer (DTC) online branded business focused on performance nutrition. Its consumer base is largely in Germany and the BeNeLux region within Europe. This acquisition enables GPN to have a direct presence in the rapidly growing DTC channel. GPN will invest in Body & Fit to expand its reach across Europe. The transaction is subject to Dutch competition clearance and is expected to close in the first half of 2017. “I’m delighted to announce the acquisitions of Amazing Grass and Body & Fit,” said Siobhan Talbot, Group Managing Director, Glanbia. “Both businesses have a strong strategic fit with Glanbia Performance Nutrition extending its reach to new consumers and channels. Amazing Grass produces a range of natural plant based nutrition products while Body & Fit is a successful direct to consumer online brand. Both businesses have a track record of strong growth and we will continue to invest in their future development.”Both of the existing management teams will remain with the respective businesses and integration will largely be related to installing Glanbia supporting systems.
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