Glanbia acquires Optimum Nutrition
August 25, 2008
by FoodBusinessNews.net Staff
KILKENNY, IRELAND — Glanbia P.L.C., an international cheese and nutritional ingredients company, has acquired Optimum Nutrition, Inc. for $315 million.
"This is an exciting acquisition for Glanbia as it gives us a leading position of scale in a fast growing segment of the nutrition market," said John Moloney, managing director. "It is a close strategic fit with our core areas of expertise in whey and sports nutrition and brings us up the value chain in consumer markets. Optimum also fits very well with the group’s stated growth strategy and ambition to continue to internationalize our business. The transaction is expected to be earnings enhancing from this year."
Optimum has facilities in Illinois, South Carolina and Florida and had revenues of $185 million in 2007.