Irish dairy firm Glanbia has announced the acquisition of two firms, Amazing Grass in the United States and Body & Fit in the Netherlands, as the company seeks to grow its Glanbia Performance Nutrition division (GPN).
The two acquisitions together are valued at approximately €181 million.
Amazing Grass is a producer of plant-based nutrition and super food products, as well as organic and GMO-free products, for the North American market. According to Glanbia, the brand is 'complementary to the current portfolio and positions GPN well in the plant based nutrition market'.
Body & Fit, which trades primarily in the Benelux countries and Germany, is a direct to consumer online branded business focused on performance nutrition.
“I’m delighted to announce the acquisitions of Amazing Grass and Body & Fit," said Siobhan Talbot, Group Managing Director, Glanbia. "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.”
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up for ESM: The European Supermarket Magazine.
