Glanbia plc announces strategic acquisitions in Plant Nutrition and the Direct to Consumer channel for €181 million
6 February 2017
Glanbia plc, the global nutrition group, is announcing today that it is investing approximately €181 million, inclusive of contingent consideration, in two acquisitions in its Glanbia Performance Nutrition ("GPN") segment.
Amazing Grass
On 6 January 2017, Glanbia acquired Grass Advantage LLC ("Amazing Grass") in the US. Amazing Grass has a portfolio of organic and non GMO brands in the plant based nutrition, "Greens" and "Super Food" categories.
The brand portfolio offers plant based organic, GMO free products to lifestyle consumers in the natural, online, food, drug and mass channels in North America. The brand is complementary to the current portfolio and positions GPN well in the plant based nutrition market.
Body & Fit
On 3 February 2017, Glanbia agreed to acquire "Body & Fit" in the Netherlands, a leading direct to consumer ("DTC") online branded business focused on performance nutrition.
Body & Fit's consumer base is largely in Germany and the BeNeLux region within Europe. This acquisition enables GPN to have a direct presence in the rapidly growing DTC channel. GPN will invest in Body & Fit to expand its reach across Europe. The transaction is subject to Dutch competition clearance and is expected to close in the first half of 2017.
Integration
Both of the existing management teams will remain with the respective businesses. Integration will largely be related to installing Glanbia supporting systems.
Combined revenues
The 2016 full year combined net revenues of Amazing Grass and Body & Fit was approximately €99 million.
Earnings impact and financing
The acquisitions will be marginally earnings accretive in 2017 and will be funded by debt from existing facilities.
Commenting on the announcement, Siobhan Talbot, Group Managing Director, Glanbia 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."
ENDS
For further information contact
Glanbia plc +353 56 777 2200
Investor contact: |
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Liam Hennigan, Head of Investor Relations: |
+353 86 046 8375 |
Media Contact: |
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Mark Garrett, Director of Communications & Public Affairs: |
+353 86 601 9655 |
About Amazing Grass
Brandon Bert and Todd Habermehl left careers in the tech industry in 2002 to start Amazing Grass. The Bert family has spent the past 70 years perfecting the cultivation, harvesting, dehydration, and storage of cereal grasses and alfalfa for optimal nutritional content. These field-grown grasses are the foundation for every Amazing Grass product, imparting high doses of antioxidants, beta carotene, phytonutrients and other nutrients.
Amazing Grass greens are USDA organic, Non GMO, kosher pareve, vegan and gluten free containing a variety of vitamins, minerals, plant based proteins and phyto-chemicals.
see: www.amazinggrass.com
About Body & Fit
Established in 1995, Body & Fit has accumulated over 20 years of online retail expertise in the field of performance nutrition, food supplements and dietary products. Body & Fit's corporate office and distribution warehouse are based in the Netherlands. The majority of their consumer base is in Germany, Belgium, Netherlands and Luxembourg ("BeNeLux").
Body & Fit's performance nutrition and lifestyle brand is sold through its Dutch language website (www.bodyenfitshop.nl).
About Glanbia plc
Glanbia plc is a global nutrition company, grounded in nature and science dedicated to providing better nutrition for every step of life's journey.
Glanbia actively serves the nutritional needs of consumers directly through a range of branded products and as an ingredient partner to the wider food industry.
Glanbia has deep roots in the dairy industry and has become the world's leading producer and marketer of quality performance nutrition products supporting active lifestyles. Its success as a global ingredients provider has been built on Glanbia's expertise in nutritional solutions supported by significant investment in research and development.
With total group turnover of almost €3.7 billion per annum, over 6,000 employees and a presence in 32 countries worldwide, Glanbia's vision is to be one of the world's top performing nutrition companies, trusted to enrich lives every day.
