Glanbia buys sports nutrition firm Isopure for £94M

Isopure supplies premium branded powdered and ready-to-drink sports nutrition products through speciality, internet and direct distribution channels.

The company generated net revenues of $74.6M (£45.9M) in the year to the end of July. Glanbia said Isopure’s premium brand complemented its portfolio of Glanbia’s Global Performance Nutrition business and further consolidated market leading position in that arena.

The acquisition is expected to deliver profit for Glanbia from 2015 and would be funded from the group’s existing debt facilities, Glanbia said.

Glanbia expected the transaction to be completed in the fourth quarter of 2014, subject to customary completion conditions and regulatory approval.

‘Drive future growth’​

“We are delighted to announce the acquisition of Isopure,”​ said Siobhán Talbot, group md of Glanbia. “As a premium brand, the business is an excellent addition to our portfolio of market leading performance nutrition brands and provides an opportunity to leverage our infrastructure and capabilities to drive future growth.​

“The transaction, which is firmly aligned with the group’s strategy, supports our growth ambitions and will be value enhancing for our shareholders.”​

Meanwhile, Glanbia announced a 1.1% increase in its estimated turnover for 2014, following the strong performance of its global nutritionals business.

The company’s turnover is expected to reach £159M this year, after its global nutritionals business saw revenue rise by 17% in the six months to August 22, it said.

US manufacturing facility​

The completion of a new US manufacturing facility would also allow it to produce more products in-house, leading to greater cost savings. It aims to finish a second phase of development in the US next year.

The global performance nutrition and ingredients group makes sports nutrition, cheese, speciality dairy and non-dairy ingredients and micronutrient premixes and employs more than 5,000 people in 32 countries.

The company’s Global Performance Nutrition segment claims to be the global leader in sports nutrition with a direct presence in 19 countries worldwide and product sales in more than 100 countries.

Its brands include Optimum Nutrition, BSN, ABB and Nutramino. Products cover sports categories ranging from protein, muscle-gainers and builders, pre-workout and general health supplements.