KILKENNY, IRELAND — Glanbia P.L.C. has acquired Amazing Grass, Newport Beach, Calif., and Body & Fit, Heerenveen, The Netherlands. Both companies manufacture and market nutrition products, and Glanbia invested €181 million ($193 million) combined to acquire both companies.
|Siobhan Talbot, group managing director for Glanbia|
“I’m delighted to announce the acquisitions of Amazing Grass and Body & Fit,” said Siobhan Talbot, group managing director for 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 on-line brand. Both businesses have a track record of strong growth, and we will continue to invest in their future development.”The existing management teams will remain in place at both businesses, according to Glanbia. During 2016, the combined businesses generated approximately €99 million in sales. In 2017, Glanbia’s management expects the acquisitions to be marginally accretive to earnings.