Glanbia snaps up two new firms in €181m expansion
Irish food company Glanbia has announced it is to acquire two new companies in a €181m investment.
The Irish giant is to purchase Amazing Grass in the US and also Body & Fit in Holland.
Amazing Grass has a portfolio of organic brands in the “ greens” and “ super foods” 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. Amazing Grass produces a range of natural plant based nutrition products while Body & Fit is a successful direct to consumer online brand,” said Glanboa managing director Siobhan Talbot.
The existing management teams will remain with the respective businesses and integration will largely be related to installing Glanbia supporting systems.
The companies had combined revenues last year of around €99m.