Glanbia has acquired two companies in the plant-based foods and performance nutrition categories for a combined sum of €181 million.
The Irish company will acquire US-based Amazing Grass, which owns a portfolio of organic and non-GMO brands in the plant-based nutrition, ‘greens’ and ‘superfood’ categories – including plant-based nutritional supplements. It will also buy Dutch-based Body & Fit, a direct-to-consumer online business focused on performance nutrition.
Body & Fit’s consumer base is largely in Germany and the Benelux countries. The acquisition will enable Glanbia to have a direct presence in the rapidly growing direct-to-consumer channel, while investing in Body & Fit will expand its reach across Europe.
Between them, the companies generated around €99 million in full-year revenues last year.
The two deals will fit strategically with Glanbia’s Performance Nutrition division, and will extend its reach to new consumers and channels, the company said.
Glanbia group managing director Siobhan Talbot said: “I’m delighted to announce the acquisitions of Amazing Grass and Body & Fit. 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 in place, and the new businesses will inherit Glanbia’s supporting systems as part of the integration process.
The second of the transactions – that of Body & Fit – is subject to Dutch competition clearance and is expected to close in the first half of 2017.
Last month, Glanbia confirmed that it is in ‘advanced discussions’ with three major US milk suppliers – Dairy Farmers of America (DFA), the Michigan Milk Producers Association (MMPA) and Foremost Farms – over a new cheese and whey production facility in Michigan.
© FoodBev Media Ltd 2017