- Subject to regulatory approval, Ireland-based Glanbia plc will acquire thinkThin of Los Angeles from TSG Consumer Partners and founder Lizanne Falsetto. The $217-million sale is expected to close by the end of 2015. thinkThin will maintain its headquarters in Los Angeles.
- thinkThin makes protein-enriched bars and snacks targeted at lifestyle consumers and primarily distributed in the US. For the 12 months ending September 2015, the company had net sales of $84 million and a previous three-year compound average growth rate of 31%.
- thinkThin will increase the presence of Glanbia Performance Nutrition (GPN) in the nutrition bar category, valued at $2.8 billion in US retail. The acquisition also lets GPN enter the "better for you" snack products category.
"Through its partnership with Glanbia, thinkThin will continue to build on its dedication to promoting 'wellness from within' to consumers across a larger, global platform," said Falsetto.
Siobhán Talbot, Glanbia Group Managing Director, said, "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."
Glanbia is also busy in its other segments, recently introducing a pea protein that has no bitter taste and entering discussions with the company's U.S. joint venture partners to expand the jointly owned Southwest Cheese Company in Clovis, NM.