Global nutrition group Glanbia has confirmed plans to acquire well-known weight-loss and health brand Slim Fast and its associated trademarks in a €350m deal. Glanbia says it intends to continue to operate SlimFast as part of its Performance Nutrition segment.
Glanbia plc has signed an agreement with the owners SlimFast and its associated brands, to acquire the business in a €350m deal.
A household name in the UK and Ireland and USA, SlimFast has operated more than 40 years as a weight management and health & wellness brand family.
In 2017, SlimFast delivered $212 million net sales and, after non-recurring supply chain transition costs, a net loss before tax of $12 million. The gross assets of SlimFast at its 2017 financial year end were $136 million. Glanbia plans to operate SlimFast within its Performance Nutrition segment.
Siobhán Talbot, group managing director of Glanbia said she is pleased with the deal. “SlimFast is an adjacency to the Glanbia Performance Nutrition brand portfolio,” Talbot said. “It is an established and enduring brand that will complement our existing portfolio targeting lifestyle consumers.”
Talbot said that the transaction is in line with Glanbia’s strategic ambition to extend the reach of its Glanbia Performance Nutrition portfolio to related consumer needs.
It is expected that the transaction will be finalised by the end of this year, pending regulatory approval.