News

Glanbia to acquire thinkThin

17 Nov 2015

Glanbia is to acquire thinkThin for $217 million. thinkThin has a range of protein enriched bars, primarily distributed in food, natural and mass retail channels in the US.

Glanbia is to acquire thinkThin for $217 million.

thinkThin has a range of protein enriched bars, primarily distributed in food, natural and mass retail channels in the US. Net sales for the twelve months to the end of September 2015 were $84 million, with a compound average growth rate for the previous three years of 31%.

“I am very pleased to announce that we have reached agreement to acquire thinkThin,” said Siobhán Talbot, Glanbia Group Managing Director. “As a premium lifestyle nutrition product with very strong brand equity, thinkThin represents an excellent strategic addition to our portfolio of market leading performance nutrition brands. The transaction is firmly aligned with our overall growth ambitions and positions us well in the fast growing nutrition bar category as well as being value enhancing for our shareholders.”

The company said that thinkThin will increase Glanbia Performance Nutrition’s (“GPN”) presence in the bar category and provide exposure to the rapidly expanding nutrition bar segment which is currently valued at $2.8 billion in US retail. In addition, thinkThin provides a platform for GPN to enter the “better for you” snack products category as well as augment the GPN brand portfolio in its existing channels.

It is anticipated that the transaction will complete prior to the end of the 2015 financial year subject to the customary completion conditions and regulatory approval.