Glanbia has announced that it is to acquire thinkThin, a producer of protein enriched bars targeted at lifestyle customers for a cash consideration of $217 million (€202 million).
thinkThin, which boasted sales of $84 million last year, primarily distributes its products in food, natural and mass retail channels in the US.
The business will be integrated into Glanbia's Performance Nutrition business. It is expected that the deal will be completed by the end of the financial year.
"As a premium lifestyle nutrition product with very strong brand equity, thinkThin represents an excellent strategic addition to our portfolio of market leading performance nutrition brands," said Siobhán Talbot, Glanbia Group Managing Director.
"The transaction is firmly aligned with our overall growth ambitions and positions us well in the fast growing nutrition bar category as well as being value enhancing for our shareholders.”
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