Glanbia completed the takeover of US-based Amazing Grass on January 6, while the Body & Fit deal was agreed on February 3. The nutrition products manufacturer said both acquisitions would help extend its reach to new consumers.
The firm’s md 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’s Performance Nutrition [division], extending its reach to new consumers and channels.
‘Invest in their future development’
“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.”
Amazing Grass makes plant-based, organic, nutritional products which are free from genetically modified organisms. Those included wheat grass, plant-based protein powder and ‘superfood’ snack bars. The manufacturer targets lifestyle consumers in the natural and drug channels, Glanbia said.
Dutch firm Body & Fit is a direct-to-consumer online business, that focuses on performance nutrition, Glanbia said. Its consumers are largely based in Germany, Belgium, the Netherlands and Luxembourg.
Glanbia’s acquisition of Body & Fit would give it a “direct presence in the rapidly growing direct-to-consumer” sector, it said. Glanbia will invest in the manufacturer to increase its presence across Europe, it said. The deal was expected to be completed before July, should it be given clearance by Dutch competition authorities.
Both manufacturers would retain their existing management teams, Glanbia said. Amazing Grass and Body & Fit’s full-year 2016 revenues were about £85M combined. The deals will be funded by debt from existing facilities.
Meanwhile, Glanbia’s Performance Nutrition divisional md Alex Baker was shortlisted for the Me and My Factory – Editor’s Choice award in last year’s Food Manufacture Excellence Awards.
Glanbia’s acquisitions – at a glance
- US-based Amazing Grass
- Dutch-firm Body & Fit
- £156M in total