Glanbia acquires drinks nutrition firm for $60m
GLANBIA IS continuing to build its presence in the global nutritionals business, with the announcement that it has acquired US nutritional drinks manufacturer Aseptic Solutions for $60 million (€50 million)
The bolt-on acquisition was funded by Glanbia’s existing banking facilities. Aseptic Solutions produces and co-packs nutritional juices and beverages such as vitamin shots, protein shakes and juices. Its innovative aseptic technology preserves liquid products without using preservatives.
Based in Corona, California, the company was founded in 2004 and employs 175 people. Glanbia said the acquisition enhances the company’s portfolio by “complementing and enhancing existing ingredient solution capabilities”.
Glanbia’s US cheese and global nutritionals division has been the primary driver of the group’s growth in recent years. Last year, revenue at the division grew by 35 per cent to €1.38 billion, representing 42 per cent of the group’s overall revenue and 61 per cent of Ebita. The division includes Glanbia’s cheese businesses in the US as well as nutritional products, such as healthy ageing nutrition products, nutritional bars and nutritional beverages.
Last month, Glanbia announced plans to spin off the bulk of its milk-processing business in a proposed joint venture with its 54 per cent shareholder, Glanbia Co-op. It closed up 0.8 per cent at €6.15 yesterday in Dublin.