Glanbia Acquires U.S. Protein Bar Business, thinkThin for $217M

November 18, 2015

Glanbia, Ireland’s dairy and sports nutrition group, has been quite active this month. Just weeks after announcing that the group was engaged in advanced negotiations regarding a $140 million project to be undertaken with its U.S. joint partner, South West Cheese, to expand its New Mexico production, the group now announced the acquisition of U.S. protein bar business, thinkThin for US$217 million.

 

Launched in 1999 in Southern California, and known as a leader in the high-protein, healthy snack sector, thinkThin is self-described as a “passionate supporter of health through nutrition.” While it has traditionally been focused on the ingredients and nutrition through its supplement brands, including Optimum Nutrtion and BSN, Glanbia foresees the acquisition as providing a foothold in the booming ‘better for you” snack space, and bringing further value to its Performance Nutrition division.

 

In the 12 months ending September 30, thinkThin saw annual sales of US$84 million, and over the past three years, the company has seen an impressive compounded average growth rate of 31%.

 

“The bar segment is worth US$2.8 billion in retail sales value, and Glanbia has a limited presence in this segment. It does supply ingredients, but did not have a sizable branded offering in bars,” said a KBC/Rabo spokesman, reports International Business Times.

 

Commenting on the deal, Glanbia Group’s managing director, Siobhán Talbot said, “The transaction is firmly aligned with our overall growth ambitions and positions well in the fast growing nutrition bar category as well as being value enhancing for our shareholders,” reports RTE news.

Join the Global AgInvesting Community

Share your email to be notified about upcoming events, receive leading industry news and more.