Glanbia to acquire SlimFast
SlimFast is set to be acquired by Glanbia from current owners KSF Holdings and HNS Intermediate for $350 million. SlimFast had 2017 net sales of $212 million, EDITDA before non-recurring costs of $24 million and a net loss of $12 million after one-time supply train transition expenses.
“I am pleased to announce that we have agreed to acquire SlimFast, a leading consumer brand in the $8 billion weight management nutrition market, an adjacency to the Glanbia Performance Nutrition brand portfolio,” said Siobhán Talbot, group managing director of Kilkenny, Ireland-based Glanbia. “SlimFast is an established and enduring brand and, along with nutritional supplements brands ‘Healthy Delights’ and ‘Nu-Therapy,’ complements our existing portfolio targeting lifestyle consumers. It plays to global consumer trends focused on convenient formats and snacking. The transaction is in line with our strategic ambition to extend the reach of our Glanbia Performance Nutrition portfolio to related consumer needs.”
Glanbia said it expects the transaction to close before the end of 2018, subject to completion conditions, agreed closing accounts and regulatory approval. The final price will depend on the value of actual working capital
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