Global nutrition company Glanbia has announced that it has agreed to acquire in a deal worth $217m.
Based in Los Angeles, California, ThinkThin was founded in 1999 by Lizanne Falsetto and the company specialises high-protein products.
ThinkThin’s products are distributed in a range of well-known US food, drug and mass retailers. TSG Consumer Partners, a leading investor in the branded consumer sector, acquired a majority stake in the company during 2011.
The company’s products are targeted at lifestyle consumers looking for healthy and convenient snacks. The company distributes its products in food, natural and mass retail channels in the US.
Glanbia actively serves the nutritional needs of consumers directly through a range of branded products and as an ingredient partner to the wider food industry.
Glanbia is a leading producer and marketer of quality performance nutrition products supporting active lifestyles. Its success as a global ingredients provider has been built on Glanbia’s expertise in nutritional solutions supported by significant investment in research and development. The company employs almost 6,000 and has a presence in 34 countries worldwide, with a turnover of over €3.5bn per annum.
Siobhán Talbot, managing director, Glanbia, said: “I am very pleased to announce that we have reached agreement to acquire thinkThin. As a premium lifestyle nutrition product with very strong brand equity, ThinkThin represents an excellent strategic addition to our portfolio of market leading performance nutrition brands. 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.”
It is anticipated that the transaction will complete prior to the end of the 2015 financial year subject to the customary completion conditions and regulatory approval.