Kilkenny, Ireland — Glanbia Plc has announced that it will invest a total of €181 million to acquire Newport Beach, CA-based Grass Advantage LLC (Amazing Grass) and Netherlands-based Body & Fit. The acquisitions in plant nutrition and the direct-to-consumer channel, respectively, are a strategic fit with the Glanbia Performance Nutrition (GPN) division and will allow the company to gain a larger presence in the plant nutrition market as well as expand to new channels.
Glanbia is a global nutrition company, which takes pure ingredients to produce high-quality nutritional ingredients and branded consumer products. Its Glanbia Performance Nutrition division, in particular, produces a range of performance nutrition products including brands such as Optimum Nutrition, BSN, Isopure, thinkThin, Nutramino, ABB, and trusource.
On January 6, 2017, Glanbia acquired Amazing Grass. Amazing Grass offers “Amazing Grass greens” which are USDA organic, non GMO, kosher pareve, vegan, and gluten free. The products are in the plant based nutrition, “Greens,” and “Super Food” categories. This brand is complementary to the current portfolio of GPN and positions it well in the plant based nutrition market.
On February 3, 2017, Glanbia agreed to acquire Body & Fit in the Netherlands. Body & Fit offers one of the largest assortments of sports nutrition, food supplements, and dietary products and is the leading direct-to-consumer (DTC) online branded business focused on performance nutrition. The majority of their consumer base is in Germany, Belgium, Netherlands, and Luxembourg. This acquisition enables GPN to have a direct presence in the rapidly growing DTC channel in Europe. The transaction is expected to close in the first half of 2017.
Both of the existing management teams will lead the new acquisitions towards integration through the installation of Glanbia supporting systems. The combined net revenue for 2016 was approximately €99 million and the acquisitions will be marginally earnings accretive in 2017.
Siobhan Talbot, group managing director at Glanbia said in a press release, “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… Both businesses have a track record of strong growth and we will continue to invest in their future development.”