Business complements Global Performance Nutrition Business of Glanbia
Irish company Glanbia, a global performance nutrition and ingredients group, has agreed to buy Isopure for US$153m in cash.
Isopure is a New York, US-based provider of premium branded sports nutrition products. The business focuses on powders and ready-to-drink formats, selling primarily through specialist, Internet and direct distribution channels. The company reported net revenue of $74.6m to 31 July, which represents a compound annual growth rate (CAGR) of 20% for the period from 31 December 2011 to 31 July 2014.
Sales at Glanbia's sports nutrition business account for around a fifth of revenue, rising 17% to €374.6m ($484.1m) in the first half of 2014. Sales across the group rose just 8.1%.
The Isopure brand complements Glanbia’s Global Performance Nutrition (GPN) business and the acquisition further consolidates GPN’s market leading position.
The deal is expected to be completed in the fourth quarter of 2014 subject to customary completion conditions and regulatory approval.
Glanbia's Group Managing Director Siobhán Talbot, said: 'We are delighted to announce the acquisition of Isopure. 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.'