Irish food group Glanbia is to add to its growing sports nutrition business with the acquisition of privately-owned US firm The Isopure Co.
Glanbia said today (12 September) it would pay US$153m for Isopure, which sells powders and ready-to-drink products.
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“As a premium brand, the business is an excellent addition to our portfolio of market leading performance nutrition brands and provides an opportunity to leverage our infrastructure and capabilities to drive future growth,” Glanbia MD Siobhán Talbot said.
Within what Glanbia calls its performance nutrition business, the company owns brands including Optimum Nutrition.
It is a division that has enjoyed robust growth and has been a key factor in Glanbia’s recent growth. In the six months to 5 July, Glanbia said its performance nutrition arm saw its EBITA jump 27.7% to EUR42.9m and revenues rise EUR374.6m.
Isopure ran up net revenues of $74.6m for the 12 months to the end of July. Glanbia said the result meant Isopure had enjoyed a compound annual growth rate of 20% from the end of December 2011 to 31 July this year.
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