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KILKENNY-BASED FOOD and dairy giant Glanbia plans to buy out a US protein-supplement company for nearly €120 million.
Glanbia announced its cash purchase of The Isopure Company today in a US$153 million (€118 million) buyout designed to bolster the multinational food-maker’s sports nutrition business.
Group managing director Siobhán Talbot said the buy would be an “excellent addition” to the company’s performance-nutrition brands and gave it the change to use its infrastructure to grow the business.
Isopure makes powders and ready-to-drink protein supplements for the burgeoning sports nutrition market, which analysts Euromonitor International have predicted to grow at an average rate of 10% each year between 2013 and 2018.
It had income of US$74.6 million (€57.7 million) over the 12 months to the end of July.
A good fit
Davy Research analyst Declan Morrissey said Glanbia had found a business that was a “good fit with its stable of existing brands” even though there was a “scarcity of quality assets in the sports-nutrition space”.
He said the price paid for the business looked “fair” given the company’s 20% yearly growth forecast.
A bit about Glanbia
The Kilkenny-headquartered Glanbia, which employs over 5,000 people in 32 countries, also makes performance-nutrition products like protein powders, as well as dairy products.
Its produce includes a string of well-known Irish brands such as Avonmore and Kilmeaden.
READ: The GAA and Glanbia are launching a new Protein Milk
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Looks very interesting and another successful night is on the cards.
So how much will these “free events” cost the taxpayer. Or are TD’s paying for it out of their own pockets ? Are all the performers giving their time free.? Where does “free” come into it?
@Peter De Courcy: what are you on about ? What has this got to do with TDs ? It’s free for the public to attend which is a good use of public money if it does cost anything .
@Peter De Courcy: Its run by volunteers so yes people do give up their time but so what if it was costing the tax payer? I for one am happy for my tax to go towards people taking part in cultural events. Should we all just sit inside all day and never have any fun?
Probably no more than one of your productions when you go looking for an arts grants Peter De Courcy
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