Glanbia in $217m acquistion deal for US firm ThinkThin
Glanbia has announced that it has acquired ThinkThin, a US firm that specialises in protein bars, for $217 million.
ThinkThin will become part of Glanbia’s Performance Nutrition division once the deal is finalised, which is anticipated to be completed prior to the end of the 2015 financial year.
Glanbia has become increasingly focused on ingredients and nutrition in recent years, and now owns a number of leading supplement brands including Optimum Nutrition and BSN. Glanbia has said in a statement that ThinkThin will increase Glanbia performance nutrition’s presence in the bar category.
The nutrition bar market in the US alone is worth $2.8 billion a year.
Siobhán Talbot, Glanbia Group managing director said she was “very pleased” to announce the agreement.
“As a premium lifestyle nutrition product with very strong brand equity, ThinkThin represents an excellent strategic addition to our portfolio of market leading performance nutrition brands,” she said.
“The transaction is firmly aligned with our overall growth ambitions and positions us well in the fast growing nutrition bar category as well as being value enhancing for our shareholders.”
