Friday 18 August 2017

Glanbia to pay €181m for US and Dutch health food firms

Glanbia managing director Siobhan Talbot said both businesses had ‘a strong strategic fit with Glanbia Performance Nutrition’
Glanbia managing director Siobhan Talbot said both businesses had ‘a strong strategic fit with Glanbia Performance Nutrition’

Sean Duffy

Glanbia has announced it is to acquire two new companies in a major €181m investment.

The Irish food giant is to purchase Amazing Grass in the US and Body & Fit in Holland.

Amazing Grass has a portfolio of organic brands in the "greens" and "superfoods" categories.

Body & Fit is a direct provider to consumers in the area of performance and nutrition. The company's primary market is Germany, however Glanbia's investment will see the brand rolled out across Europe.

"Both businesses have a strong strategic fit with Glanbia Performance Nutrition extending its reach to new consumers and channels," said Glanbia managing director Siobhan Talbot. "Amazing Grass produces a range of natural plant-based nutrition products while Body & Fit is a successful direct-to-consumer online brand."

The existing management teams will remain with the respective businesses and integration will largely be related to installing Glanbia's supporting systems.

The companies had combined revenues last year of around €99m. In a statement, Glanbia confirmed that the deal for Body & Fit was subject to clearance by the Dutch competition authority.

Amazing Grass specialises in the provision of nutritional content by using high doses of antioxidant, phytonutrients and beta carotene.

Body and Fit has developed into a key player in the areas of performance nutrition, food supplements and dietary products in Germany. The company is headquartered in Holland .

The deal is the second major expansion announcement by Glanbia in 2017. Last month the company announced it was close to agreeing a joint partnership agreement in the US on a €374m milk plant in Michigan.

Irish Independent

Also in Business