Glanbia acquires leading US sports nutrition company

Glanbia plc, the international cheese and nutritional ingredients Group, has announced the acquisition of Illinois-based Optimum Nutrition Inc. Optimum is one of the leading manufacturers of nutritional supplements for the sports sector, with some of most trusted brands in the USA – including 'Optimum Nutrition', 'Gold Standard 100% Whey' and 'ABB'. The total consideration for the acquisition is $315 million. The business will be acquired on a debt-free basis and funded from the  Glanbia's existing resources.

Optimum manufactures and supplies a range of whey-based, premium nutritional supplements to the US and global sports nutrition markets.

Announcing the acquisition, John Moloney, managing director, Glanbia Group, said, ''This is an exciting acquisition for Glanbia as it gives us a leading position of scale in a fast growing segment of the nutrition market. It is a close strategic fit with our core areas of expertise in whey and sports nutrition and brings us up in the value chain of the consumer markets. Optimum also fits well with the Group's stated growth strategy and ambition to continue to internationalise our business. The transaction is expected to enhance our earnings this year.''