Glanbia Looking At Acquisitions To Grow US Business
Glanbia’s Managing Director, Siobhán Talbot has said that the Irish dairy, ingredients and sports nutrition business is looking to make more acquisitions, having bought US protein bar, ThinkThin, in December of last year.
According to Just-Food.com, Talbot said that while Glanbia hopes to grow its performance nutrition business organically, it is prepared to follow up its ThinkThin purchase and add to the business through acquisitions.
"We would like to acquire more businesses," she explained, speaking at the Consumer Analyst Group Europe investment conference in March.
"We're quite disciplined acquirers. We like to have organic growth where we can, but we like to acquire businesses too where it gives us a scale or a position across areas or white spaces we haven't been in heretofore."
Acquisitions have played a significant role in Glanbia’s performance nutrition division in the US, says Just-Food.com; it took over Illinois company, Optimum Nutrition in 2008, and then bought Bio-Engineered Supplements and Nutrition in 2011 for $144 million (€127 million). In 2014, it also bought powders and drinks company, The Isopure Co. for $153 million (€135 million).
Talbot explained that the decision to buy ThinkThin stemmed from the US performance nutrition category becoming more mainstream, and consumers looking for more convenient products.
"Over 80% of the format is still powders, but as consumers look for increasing convenience, for variety, there's a move towards ready-to-drink products and bars - hence our interest in ThinkThin", she explained.
Last year, Glanbia’s performance nutrition represented an EBITA of €135.6 million (approximately $155 million), making it the company’s biggest division.
© 2016 - Checkout Magazine by Jenny Whelan.