Glanbia plc has announced that it has agreed to acquire US business The Isopure Company for US$153 million.
Isopure is a US based provider of premium branded sports nutrition products. The Business focuses on powders and ready-to-drink (‘RTD’) formats, primarily through the specialty, internet and direct distribution channels. Isopure generated net revenues of US$74.6 million for the twelve month period to the end of July. This represents a CAGR of 20% for the period from end December 2011 to end July 2014.
Glanbia says Isopure’s premium brand complements the portfolio of Glanbia’s Global Performance Nutrition (‘GPN’) business and the acquisition further consolidates GPN’s market leading position. The acquisition is expected to be earnings accretive from 2015 and will be funded from the Group’s existing debt facilities.
It is anticipated that the Transaction will complete in the fourth quarter of 2014 subject to customary completion conditions and regulatory approval.
Commenting today, Siobhán Talbot, Group Managing Director said: “We are delighted to announce the acquisition of Isopure. 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. The transaction, which is firmly aligned with the Group’s strategy, supports our growth ambitions and will be value enhancing for our shareholders.”