The dairy to performance nutrition company has acquired Amazing Grass in the US and Body & Fit in the Netherlands in a combined deal worth €181m.
Amazing Grass produces a range of plant based nutrition products while Body & Fit is a direct to consumer online brand.
Both businesses had a combined 2016 revenue of €99m and have experienced strong growth in recent years. Glanbia will invest to develop the brands further.
Amazing Grass is a US-based company that focusses on organic and non GMO plant based products. Glanbia says the brand is “complementary to the current portfolio” and positions Glanbia well in the plant based nutrition market.
Body & Fit is an online retail business based in the Netherlands, with a consumer base in Germany and the Benelux region within Europe.
It sells a range of branded performance nutrition products including Glanbia’s own range.
Glanbia announces the acquisition of Amazing Grass in the United States and Body & Fit in the Netherlands https://t.co/OKpttJ7TqE pic.twitter.com/Ap6pqBHfE7
— Glanbia plc (@GlanbiaPlc) February 6, 2017
New consumers
Glanbia said they will invest in the business to expand its reach across Europe. The transaction is subject to Dutch competition clearance.
Siobhan Talbot, Group Managing Director, Glanbia said “both businesses have a strong strategic fit with Glanbia performance nutrition extending its reach to new consumers and channels”.
The investment of approximately €181m will be funded by debt from existing facilities.