Glanbia is investing €181 million (US$194.69 million) to acquire Amazing Grass in the US and Body & Fit in the Netherlands.
On January 6, 2017, Glanbia acquired Grass Advantage LLC (Amazing Grass), which has a portfolio of organic and non GMO brands in the plant-based nutrition, greens and superfood categories.
The products are offered to lifestyle consumers in the natural, online, food, drug and mass channels in North America.
On February 3, 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 Glanbia to have a direct presence in the rapidly growing DTC channel.
Both of the existing management teams will remain with the respective businesses and integration will largely be related to installing Glanbia supporting systems.
The investment of approximately €181 million is inclusive of contingent consideration and will be funded by debt from existing facilities.
The 2016 full year combined net revenues of Amazing Grass and Body & Fit was approximately €99 million and the acquisitions will be marginally earnings accretive in 2017.
