DUBLIN: In a notable acquisition from Europe, Glanbia, Ireland’s dairy and sports nutrition group has announced the takeover of US protein bar maker thinkThin for a reported US$217 million (AU$305 million).
thinkThin was founded by Lizanne Falsetto in 1999 and is based in Southern California and describes itself as a “passionate supporter of health through nutrition.”
Glanbia expressed the hope that the acquisition would give it “a great platform” to enter the “better for you” snack segment. The deal is expected to be through by early January 2016. Glanbia claimed the transaction would be marginally “earnings accretive” in 2016, reports Just Food.
Glanbia is focused on the ingredients and nutrition market and owns a number of supplement brands including Optimum Nutrition and BSN. thinkThin is known as a specialist player in high-protein, health-focused bars and snacks. It is expected to add more value to Glanbia’s Performance Nutrition division.
